Hi gilad,
Thought I might jump in on this one for my first post.

I am located about 100k from Melb, (not Ballarat) and bought an IP some 4 years ago – didn’t know the 11 second rule then but it would have come in a bit on the low side, however enough deposit put it in the +ve cashflow arena – now the value has grown by a net 100% and rented at $175 p/w it has been easy to get tenants on lease. So I guess the point is that regional areas are a good source of suitable properties if you do some local homework.

Cheers
Redbak[]