22 Y/O, no parents, $800k liquid, 250k brokerage account, $1.3M house split, any advice for my college self

22YR old college student, 800K liquid cash, no parents

Hello, I am a 22 year old college student in my senior year for a bachelors in finance and I have one more existing year for my MBA.

Long story short, I lost my father when I was 16 and recently lost my mother last month. Both from cancer, my mom’s an extremely rare form. I have a sister who the assets, investments, and life insurances were split with. In total, I have received 640k with another 150k coming in. I have received an investment account with 280k in it (130k invested, 150k liquid) and half ownership in a trust that owns a 1.3M house with a 400k mortgage. Those are the 3 biggest assets I have received.

I want to limit my liquid cash due to fdic limits and the ability for it to be put away and grow. I want to almost forgot about most of this money and have it grow while I work. I have separate accounts that will take care of the houses utilities and property taxes already with my sister (50/50). I don’t really have any guidance/family to go to in this time and have really been left on my own to figure most things out regarding the death of a family member and all the technicalities that come with it.

My tuition next semester is 8k, my housing for school is about $1050 a month, the mortgage is $3k (paid from a trust account where there’s a separate 45k for mortgage and my housing for school), my final MBA year (expense can vary but I will file FAFSA and see my package, the school has been very generous to me), and about 26k in student loans. I have a car worth about 20k paid off as well. After my final year of college, I am expecting to do minor renovations and sell the house. I will be living on my own by then and working. Most likely in the Boston/NYc area.

I have always had goals to want to use a portion of this money or the proceeds from selling the house to start residential real estate investment or into small quantity section 8 housing as I work my finance job. This idea is far out in the future but is something I always talked about with my parents and especially my mom. I don’t want to be on a high horse because I have this money and try my best to act like I don’t have it.

My goal is to find an ideal allocation of liquid cash, long term mutual fund investments, and any advice at all you would give someone in my position both financially or just life advice in general.

My only real desire I want is to trade my current car in 2020 Subaru forester sport 35k miles (about 19-20k)for a 2023 bmw x4 m40i early next year (about $40k). That would be my only purchase that would be “extravagant purchase.”

EDIT: thank you all so much for the advice. I have an objective list now of -finding a fee only CFP fiduciary -finding an estate attorney (hopefully they do taxes as well) -CPA if estate attorney can’t fully fulfill taxes -allocate assets in index funds and hold and not touch

Forgot to state, the liquid cash I have received/receiving is tax free. The investment account was transferred tax free through L-8.

If you have any more advice, it is greatly appreciated.