thanks for the reply crj.

Apologies for the delay with mine, been out of town.
 
Dad not bothered if improvemnets become his, afterall, any investment he has in mind would require improvements on his part anyway. 

I agree, ownership transferred could result in a GST liability and I must seek professional advice regarding this.

The land is zoned for multiple dwellings.

You are right. Currently it is a buyers market in the area and a lowball offer on a property is something I should defintely consider.  The estimated value of my villas after completion in that area given todays market is somewhere between 250k & 300k each, I expect building to take approx 1.5yrs for completion so cant comment on the market at that time, although predictions are such that prices will rise again but slowly and not as much as the last boom. i would be looking to build/buy & rent in that area and only sell if market changes to a sellers market obviously. 

My father has long considered to build on his block himself, but he has a wife who works 2 jobs & is EXTREMELY reluctant to proceed (because she doesnt want the added debt, factoring in the interest rate hikes & such also) & since he works most days & long hours it would be up to me to manage. Since I want to invest anyway i thought this was an opportunity for us both, and the least expensive one for me in my region in my opinion. I have considered buying an IP in another state but I dont have the time to take off work to go to these places and check out selected areas. Instead I am hoping to invest locally for my 1st IP (on the south coast). After that I'm hoping to look elsewhere. Shoudl also add I'm too afraid to buy sight unseen.

 Thanks for the advice, you have given me more food for thought, will definitely keep an open mind :o)