Just thought I would update. Things have gotten really ugly. I was served with a 3 page outgoing letter in which things like dust in the vent of the (broken and unusable) fireplace and money for the "prolonged non use of the spa" were included (the owner had taken the pump for the spa away about 2 months into the tenancy).

It is just awful. The biggest thing is we just didn't document like we should have. The agent is being really dodgy (demanding $1700 more than what was owed, not having pictures of things that I know they have etc etc). And now they are claiming that the chimney sweep who broke the fire (who is also a friend of the owner) is saying that there was nothing wrong with the fire. I'm pretty sure they have had it fixed since we moved out and we have no photos of the flooding or rusted out flue. I'm such an idiot

Huge learning curve for me. Would love to name and shame these a***holes but not sure it's allowed?

We are going to release the bond money they have requested because to fight it would need more evidence then we were going to go for compensation of our $800 electricity bill but now they have fixed the wood heater there is no evidence it was broken feeling like a real rookie right now.

Good to know this doesn't seem normal! Feel like I'm loosing my mind a little. I've spoken to NSW fair trading and have pulled them up on the open houses (they can't show the house till there is 14 days left of the lease. We are on month to month now and have given them the date we will be moving out. Seriously don't know if I have the time/energy etc to deal with tribunal stuff.

Main thing I'm pissed about is the heater. Would like some compensation for that.

Just an update:

I was honest with the banker and told him I only wanted the LOC and was thinking a broker for a number of reasons (including accessing cheaper rates) and that if he would match the cheaper rate then I would stick with the bank. He came back to me with "we don't match rates". Makes it easy for me

Good point re the valuation. I probably won't do it though because of the current tenants. The place looks pretty ordinary

Hi Realty4Life – this link will take you to it: https://www.landata.vic.gov.au/tpc/

Update on the cold call. Got onto a bone fide developer! Bit of shame for me because she knew exactly how much the land was worth (retail) but she wants to meet for coffee to discuss the possibilty of mentorship and project management! Really pays to be forward sometimes!

Thanks Paul, that's the second recommendation for Lewis I've had today. Will file his contact details away for next time (which may not be far away). Tony was who I spoke to this morning and was extremely helpful even though the deal is in Vic.

All dd has been done. This is a good, sound deal. Just need to work out how to utilize VF (and if it is even worth it). Can I use VF to develop a block of land, paying any remaining money after all blocks are sold? 

The profits are definitely there. I'm worried that I won't be able to subdivide and sell the individual blocks if I don't have the title. Will look into the second mortgage carry back, thanks Richard!