They don't need to be "good".  They just need to be a JP.

Regardless.  The TV belongs to the tenant and thus the tenant is responsible.

Just a side question; do you have a safety switch?  If not, would a safety switch have prevented the situation?

I've just gone through the process of installing new boxes with safety switches.  It costs about $750 all up.  Well worth it.  I don't think I could sleep at night if there were an electrical issue that caused harm to one of my tenants.

Depends on the lender and also the insurer as the others have said. 

CBA considers 4 to be residential and 5 to be commercial.  AAMI will not insure a block of more than 2.  GIO will insure a block of 4.

I acquired a block of 4 using CBA residential, and GIO residential IP.  You really have to hammer it in to GIO though that the units are all on one title or that you own all of them or whatever the case may be.  They get very hung up on "oh but we cannot insure the common parts" which means the driveways, fences, etc etc…  until you say "THEY ARE NOT STRATA TITLED.  I CANNOT SELL JUST ONE.  I WOULD HAVE TO SELL THE WHOLE KIT.  ALL THE FENCES AND DRIVEWAYS AND COMMONPARTS ARE MINE."  Then they understand and it's all good.  Remember to insure not just the building but also the contents, driveways carports, fences etc.  Remember that you must ask them "what are contents?  and be sure to cover yourself for such items  (i think it was stuff like window coverings and carpets).  Also be sure the policy covers the cost of rebuild of the building in the event of fire etc, but also the re-laying of all the concrete, new fences and so forth.  You would be mortified to learn how out of pocket you'd be for such things if you were not covered.

Is the mortgage on your PPOR large?  If so you might want to look at refinancing or selling one of the IPs to get the debt on the PPOR down (since it is non-deductible debt)

Perhaps you can get around it by instead doing a joint venture with someone – where you do the legwork in terms of finding the property, working out what needs to be done to it to fix it up etc etc,  you do some of the cleaning labour and so on, and the other person stumps up the cash.  In return you get a certain percentage of the equity (ie you become a part-owner of the property).  You would still need some cash to do this – you'd still need your legal team and they will not work for free.

What council district do you live in?  Some councils are pretty fussy about adhering to rules.  Straight up front I could suggest contacting council to ask if there are any by-laws they can enforce that penalize leaving the bins out when it is not bin night….  perhaps there are some littering by-laws that can be leveraged as well.

As for the broken driveway, that is a trip hazard that is a law suit waiting to happen.  That'd be something worth pointing out to the body corporate.

Have you thought about hunting for property that is technically not yet on the market?  For eg doing a letterbox drop in the area of interest introducing yourself, and inviting the owner to contact you if they might have an interest in selling their property, and at the same time saving themselves a bit of money (due to not having to pay a realestate agent commission).

Remember that even if, for example, a property really is only worth the amount you are offering, you cannot buy it if the vendor does not wish to sell for that figure.  Their reasons could include the fact that they'd make such a loss, they might as well hang onto the property, or that their feelings are hurt by the low offer.  If it is the latter, why not offer more money with a really long settlement?

There always needs to be an exit strategy, and there always needs to be a tenant pool.  Where do you "live"?  Is it an area that always has a steady stream of prospective tenants, and also prospective buyers if you need to offload the property?

Have you tried talking to a few managing agents about the vacancy rates in the area?  Remember that different property types will have different vacancy rates.  For eg in one area, two bedders might be in massive demand while four bedders lie vacant for a while.

Keep an eye on the rent section of realestate.com.au and see how long particular properties remain "on the rental market" before they are tenanted. 

Try turning up to some open for inspections as though you are a prospective tenant and get an understanding of the demand.  In some townships an open for inspection for a rental property can attract quite a crowd.

For what it's worth, my own opinion is that smaller dwellings (ie one or two bedders) that are within walking distance or a short busride from a major hospital, will always have a tenant (ie medical staff).  It's up to yourself to check on such a theory, and any other theories you hear of, until you have your own understanding of a market niche and are rock solid in your decision to buy in.

If you would like to chitchat about Geelong, drop me a PM.  I've done my homework on the area.