Im based in WA but assuming the same principal would apply Australia wide. The valuer will put a price on the dwelling as is and if you are lucky will add the construction price of the new build to the total value. 

Once subdivided this will change significantly as already mentioned. 

From my understanding In WA if you go via the Family Court you can be exempt from stamp duty if the separation/divorce is settled within 12 months for married and 24 for defacto. 

Some brokers have access to car buying services for clients.

Google a broker who specializes in equipment and vehicle finance in your area. 

Rents in Gladstone, and I am assuming surrounds are on the decrease. People are negotiating down on rentals so you may be in a position to do likewise if you go the IP route first? 

This thread from another forum makes for some interesting reading on the real estate market in Gladstone;

http://somersoft.com/forums/showthread.php?t=71992&highlight=Gladstone

All the best. 

Ahhh know that feeling. I wouldn't have realised either if I didn't turn on the TV whilst enjoying my morning coffee. 

Would also depend if you have a PPOR?

If so then would be better to use the cash to pay down the PPOR loan then re borrow placing the funds in a separate account to use as a deposit for the IP.

If you haven't received any or little capital gain in seven years then you are either overdue for some or history may repeat it self.

You need to decide if this is the case and if no gains are likely then may be a good idea to look else where imho. 

If you have the time and a basic knowledge of the tenancy act in your local jurisdiction it is doable. 

I would keep the relationship strictly business as your Tennant is actually a business partner not a friend. 

Weighing up decisions with the fact that I have a wife and three little ones and another on the way counting on me to "get it right".

Selling properties to make a capital gain rather than holding for the long term.

Not becoming an MB sooner!

I have a good life and definitely not complaining and as I read recently "The deal of a life time comes along once a week if your looking".

Easy Peasy 

Step 1: Work out whether your business involves ‘credit activities’

Read Regulatory Guide 203 Do I need a credit licence? (RG 203). This guide will help you decide whether you need to get a credit licence.

Step 2: Familiarise yourself with the licensing process

Read RG 204 Applying for and varying a credit licence (RG 204). This guide outlines the process of applying for and varying your licence.

Step 3: Get your supporting documents together, you have to attach them to your application

Write a summary business description

Do background checks on your 'fit and proper' people. For each of them you must attach a:

national criminal history check (or overseas criminal history check for overseas people)

bankruptcy check

The criminal history check and bankruptcy check must not be more than 12 months old.

Your application will be rejected if you don't attach these supporting documents. See RG 204 for details.

Step 4: Get information about your responsible managers

You must include their qualifications and relevant work experience on the application.

Step 5: Think about who you will be authorising as credit representatives

You must tell us about any person authorised to engage in specified credit activities on your behalf.

Step 6: Make sure your external dispute resolution (EDR) scheme membership is current

When you apply for your licence, you must be a member of either:

Financial Ombudsman Service (www.fos.org.au Opens new window or phone 1300 56 55 62), or

Credit Ombudsman Service Ltd (www.cosl.com.au Opens new window or phone (02) 9273 8455).

Step 7: Make sure the details we already have about you are up-to-date

Check our registers (e.g company, Australian financial services licence, credit registration)

Step 8: Work out the licence fee you will have to pay

Here is how to calculate your fee.

Step 9: Understand your professional indemnity insurance obligations

Before ASIC grants your licence, you must demonstrate that you have adequate professional indemnity insurance in place.

ASIC guidance on professional indemnity insurance

We will ask you to complete this questionnaire about your professional indemnity insurance, and to provide us with a certificate of currency.

Tip – if you are unsure about how to complete this questionnaire, we suggest that you consult your insurance broker.

Step 10: Understand your other obligations as a licensee

ASIC guidance is available.

Are you ready? You must be able to declare that all of the information in your application is complete and accurate.

Ready to apply?

More info on the process here: http://www.asic.gov.au/asic/ASIC.NSF/byHeadline/Apply%20for%20a%20credit%20licence

All the best.