1. It depends, some would argue that even paying off your own non-deductable mortgage could cost you in the long run.  You could continue to make repayments on your home but access the equity by either using your home as security for your first IP (thats what we did) or take out a Line of Credit or equity loan seperate to the first loan secured to your home.  Make sure your loan(s) for investment are kept completely seperate from your home loan and don't use it for a holiday or a new car.

2. Are you going for high growth or +ve cash flow IPs.  You need to work out your investment stratagy and then select an area.  If its growth you are after Brisbane Middle ring suburbs may suit you.

3. You need to protect yourself.  Have someone you can trust check it out for you – someone in the industry who knows what you are after.  I would suggest that the first deals you do you inspect youself.

4. Contact an Accountant who specializes in property and ask them this question.  Without knowing your situation no-one on this forum should steer you to or away from a particular investment vehicle.  Anyone who does could be giving you the wrong information.  Read 'How to reduce your tax legally by Tony Melvin and Ed Chan.

5. Shop around and don't overlook the big banks.

6. Michael Yardney, Jan Somers, Tony Melvin and Ed Chan, Rich dad's 'Cashflow Quadrant' isn't a bad read.
Also go to Propertyupdate.com.au and subscribe to their newsletter.
Attend Seminars run by people who have been in the game for more than 10 years.  After all they survived a property slump and high interest rates.

Finally – Find someone who has done what you want to do to who is willing to mentor you (paid or not).  If you go to a financial planner or an Accountant make sure they are wealthy property investors (or well on their way).  Whatever you do don't wait (my biggest mistake) take the bull by the horns.

Enjoy!

I would suggest to you that a BA worth half their salt would save you 10k + and all you have to do is pick up the phone.

I'd suggest you contact several BAs, ask them their rates and then plan a Holiday to Brisbane to meet with them.

The BA should charge you nothing for a chat and this will open your eyes.

Yes and Yes!

There may be fees depending on which lender you are through though.

You could set up a mortgage offset account instead of paying off the principal.  That way you have access to the cash to fund the next investment. 

On the other hand you could pay off the principal on you PPOR and when you redraw to fund your next investment that portion of your home loan becomes tax deductable

IO is generally the best policy depending on your situation.