Thanks Everyone.

From what I understand I believe the ATO would only take into consideration Australian owned properties as they would have no jurisdiction over overseas owned property.

Derek, In regards to restricting the potential buyer pool if I have it tied up with a long term lease I agree with you there, but I have given it good thought and being overseas I think having the least hassle by not leasing it out to the general rental market is my best bet.

Surely there is still a good market out there for small/medium investors that see value in a long term secured leased residential investment. In most instances it is quite difficult to secure long term tenancies unless you own commercial property (Besides DHA and the like)

Daniel.