Well let's see....

For starters I deposit the money in at least 2 different banks.
INVEST! INVEST! INVEST!

I would buy at least 12 more homes fixed them up and then re-sell them. I would buy the homes as I was selling the other that way the revenue can be used in the other homes I would buy in some expensive places so the revenue would be very good.
I know people who buy and re-sell at least 3 homes a month so within 4 to 5 months I could potentially double and actually even triple my money if all went well.

So I'd have about 4 to 6 million by now.

After that I would my parents a home and 2 cars. My dads not into the big expensive things so he'd be OK with like a Ford F-150 my mom on the other hand would want a Land Cruiser the most expensive... I'd also give then 250,000 for spending/bills/food and all that.
Overall I'd spend about 320,000 on them....

Once I had my parent's settled I'd buy myself a home but I'd design it and set it up myself... I'd spend a cool mill on my home.
I have 3 cars nice cars but I'd def. buy my 2 dream cars that I've always wanted. 1956 Jaguar Roadster and a Ferrari...
I'd buy Ring Side seats for just about any BIG fight anywhere around the world. I would also do any of these related to boxing:
Promote, Manage or I would start my own boxing network/channel.
Of course I'd host the show myself and we'd have the weekly mailbag where (Picture Bilbo just like his avatar pic) I'd have Bilbo in a cage with a rag bag that reads Mail in blue letters and he would read a fans letter and answer it.

I'd also buy homes for my brothers... I'd send money to my relatives in Mexico.