What should I do with a $500K condo inheritance?

Hey everyone,

I recently inherited a condo worth around $500,000. I’m 25 years old, based in Canada, and currently make about $100,000/year. I don’t need the money right now for living expenses — I’m looking to make the smartest long-term investment decision.

I’m debating a few options:
1. Keep the condo and rent it out for passive income.
2. Sell it and use the funds to buy another property (maybe something with better cash flow or appreciation potential).
3. Sell it and invest in the stock market (ETFs, index funds, etc.) for long-term growth.
4. Or some mix of the above (e.g. sell part, invest part).

My main goals are long-term wealth building and financial freedom, not quick profits. I’m open to any advice, especially around the tax implications, investment returns, or diversification strategies that might make sense for someone in my situation.

Would really appreciate hearing what others would do in my shoes — especially Canadians who’ve been in a similar situation!