What does the code say about frontage? If the block has a sloping front this becomes the width.

Do the work between tenants ie have the first one on a 6 month lease only, then you may get away with some works being maintenance and the rest as improvements/capital expenditure which can then be depreciated. If you do the work before you have leased it out, then it is all capitalised as you have purchased in a condition requiring work.

Typically you’ll add site costs ie site levelling, footing design and site works up to floor level, external concrete eg driveways & paths, front fence, mailbox, roof sarking & insulation to walls/ceiling, air cond, light fittings, exterior power & taps, landscaping….

They leave out just as much as they include.

As an intro to the building side of things, do an owner builders course (mandatory if you have to do 'building work' as defined) but useful to understand the overall process of trades co-ordination, budgeting, tendering, supervision, site safety, ohsr, legalities, security of payments legislation. design, use of consultants……..

Sounds perfect Crest. Now to find a large populus of the uneducated with few assets & fewer aspirations in a country with great skiing. (my only concession).

Save yourself half the hassle and contact a broker – Terry/Richard/Jamie should all be capable of doing the job.

Just get the timing right so that settlement and your BAS return are only weeks apart.

Since the first posts the AUD has traded down to parity and now back around $1.04

How is everyone traveling as the $ is still above parity.

Is buying just as good or are they bouncing back a little?

Are you waiting for the fiscal cliff?