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Hi Barnseee,
I'm pretty new to all the Property Investing stuff, but if you're trying to negative gear a property, but still make money, maybe you could buy a smaller relatively new unit. This way, you can claim the depreciation of the unit from your tax return. You could also furnish the unit (and increase the rent) and claim the depreciation of the furniture as a tax deduction.
Last year, I deducted over $4K back as depreciation on my 2 bedroom unit, which is 9 years old. If you have positive cashflow, I think you can still claim the depreciation as a loss, which may turn your positive cashflow into negative gearing for the tax man. (Check these facts, I'm still new at all of this).
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