Thanks for the detailed post Richard,

The reason i was thinking short term is my partner is not ready to buy just yet so over 3 years if i build up enough equity i can use it as a deposit to purchase a second nicer place with my partner. This only works of course if i can make the investment positively geared.

I had a quick search in Forest Lake and there doesn't seem to be anything that fits the budget, but another place that i was given the hot tip on was Coomera. Town houses seem to be in the 250-300k mark and all returning great rent. To far out for me to live in, but as an investment while i rent it seems good. What do you think?

I had a quick run down on the investment loans so i think  i have that sorted, it's more about making a decision on where to buy.