i would also suggest that if you were to fully or partly furnish the property, any issues with breakdowns in items or repairs are something you as the landlord would need to fix. eg.  say the fridge breaks down you would need to pay for cost of repairs being the landlord should you 'provide the fridge' as part of the furnished apartment. that means if you dont live in Syd you could get the property manager to manage the property or if you self manage, you would need to arrange the repair of the fridge.  Just be aware that anything provided to the tenant needs to be repaired during their tenancy.

I would think that it would be cheaper and more cost effective to rent a hotel whilst you are in SYd and treat the property as solely investment or solely residential. Remember to establish the reason for purchaser 'BEFORE' you purchase the property. This makes things a lot easier. It would be a slightly different scenario if you were to live there and rent the other room out to a mate or another person. Whether a mate or another, always ensure you have a tenancy agreement in place and go down the correct paths. look at consumer affairs website for all forms for self management.