Thank you both for your quick replies.  I am extremely grateful for your advice.

So if my strategy is long term hold, would the fees to transfer to a trust be worthwhile long term?  Are there any benefits to holding that one property outside of the trust besides the saving on the costs to transfer to the trust?  If I do my own thing, what trust is best?  Do I need a lawyer to set up a trust or is an accountant fine?  Sorry for all the questions, I am pretty excited about all the options ahead of me but want to make the right decisions from the start (minus my frist mistake of not having a trust already!).

Richard – I am still extremely keen to go down this path myself however I am finding that by myself I would be pushing my financial limits by entering into another property purchase for what I want.  I know the best thing is to hold off a little longer and wait for more equity to contribute to my next purchase however property prices are starting to outrun my borrowing power as I am going for a high capital growth strategy close to capitals.  I achieved 11% capital growth on my property in 6 months so if that continues I may be able to build up a reasonable amount of equity fairly quickly.  The other option is to change strategy and buy a CF+ property (if they are around) whilst I wait for that equity in my first property to rise.  I am very driven and have no doubt I can do it myself however I guess I am starting to panic under rising house prices and interest rates.  Sorry for change of direction from initial post.

Brendan