Unless you have a valuation made at the time you moved out you will pay a %. ie if you have owned it for 6 years and it was your PPOR for three years, you'll pay CG on 3/6 years.
So half of the gain (minus purchase costs etc plus depreciation). But you only pay half the CG as you have owned it for more than a year.

So 250-152 = 98 (so without all the extra's) You'll pay tax on 3/6 of that so $49K but you only pay on half so you'll pay tax on $24,500.
 It will be less due to other costs deducted.  

Because then you've missed the boat.

You may be ahead of the ones going backwards but you are not any further ahead than where you originally were. You can only get ahead by moving forwards.

I don't think you can ever look to far ahead. Keep looking, reading and you will find something that suits you. I grew up thinking that it's important to own your own home outright (that's what my mum taught me). If I had been given different advice, however I would have retired a long time ago.
What I wish I was taught was how to leverage my money. I'll give a very simple example, hypothetical. Let's assume property doubles every 10 years.
Secnario 1-So you have your PPOR worth $500K (you owe $400K) and you happily pay it off for 15 years. So now your home is worth $1,250,000

Scenario 2- Same PPOR but instead of paying off your PPOR you buy 2 investment properties worth $300K each (loans $240Keach). So 15 years down the track you have 3 houses worth $1,250,000 + $750K + $750K = $2,750K minus the loans ($400 + $240 + $240 = $880. So your net worth is now $$1,870,000

Now that is a VERY simple example of gearing your money. It is not a particularly good strategy (as the properties are costing you money) but you get the idea. I would want to get properties whereby you can still pay down your home. As time goes on as well the properties cost less to hold (rents rise etc).

You have time on your side, if you are interested there is a waelth of knowledge out there. You just need to find what fits with your life. You're in a good position to make things work for you. good luck.

Congrats on the wedding!!
Unless you are planning on having no children I seriously doubt you'll be able to continue saving that type of money.

OK you need to do a LOT of research.  You state you will "hopefully" rent it out and "only" pay around $500 a week. NO! NO! NO!

This is the mistake most people make. By buying property like this you will hit a wall after buying 2 and your lifestyle is out the door.  My properties cost me NOTHING to hold (as of the November interest rate drop).

The answer is not units VS houses. It's all in the numbers. If the numbers work, you buy it. My purchases have to be under market value (I won't buy anything I couldn't sell within a year and make a profit) and it has to be close to cash flow neutral or better (unless it had development potential).  

It's good that you are starting to think about this now, while you are young.
Get some investment books and start reading and set some goals.

Either way works. It's just what you are comfortable with. If you plan to buy more the extra equity will be handy. But if you are paying down your mortgage quickly you'll have extra equity anyway. Depends how fast you want to expand and your risk profile. Also you should have a cash buffer for when things don't go to plan. LMI is tax deductable.
Personally I like a lower LVR, especially in uncertain times.

OK so assuming an average of 2% inflation per year (which is low) your $110,000 (assuming retirement at 55) is worth $73,000 in todays money. As mentioned, this is taxed at the normal rate. Also the cost of living will be a lot higher. 20 years ago I could live on $25,000 a year. Ok so you retire at 55. What about the next 30 years? Remember your money is worth less each year.

Your figures also assume an interest rate of 5%. This is a high average. Some years it would be a lot less. Also the world hates a vacuum. If there's a hole it will be filled. What I mean by this is, if you have extra money you usually find a way to spend it. When I was at UNI I lived on next to nothing. I'm not a spender but I like holidays etc and have them. I have no (personal) mortgage and like to live my life which is why I buy properties that put money in my pocket, not take it out. The proplem is most people equate owniong property with a reduction in lifestlye. You just need to do it correctly. .

So remember economics 101. Savings erode over time (ie it's worth less each year)
                                            Debt erodes over time (ie the debt is smaller comparitavely speaking each year).

Say you buy an investment property and never pay it off. If you pay (for example) $300,000 and borrow $240K. In 20 years time the property is worth $700,000 and your debt is still $240K. Now in 20 years time $240,000 is not a lot of money.

If you buy a good property (even if it's slightly negatively geared) in a few years you can still follow your plan (albeit misguided) but you'll also have a property going up in value.

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I think it would be worth your while to make a trip to Sydney for a few.

Why would you want to pay $70,000 more for a new unit? In 5 years time they are both older units. So you are willing to buy something that is almost double the median of the area. Very risky. 

Be VERY careful when buying off the plan.
For $330K you can get a house in Liverpool. Do some more research.

With some inmsurers that is correct, however you said you were with AAMI.

With AAMI landlords building insurance they DO cover carpet and curtains so you are paying twice. It seems like YOU need to read your policy.