That's ludicrous! Rent is not savings it is only proof of capacity to pay consistently (over the term of the lease) – this is an absolute falsehood as everyone has to pay living costs, whether it be rent or mortgage payments, grocery/services bills, entertainment etc . Savings require you to prove that you have accumulated (ie not spent) any income/revenue etc which exceeds your living costs.

that’s what happens with exuberance.

you might speak to an agent to get a feel for their commission & marketing costs. You aren’t making a commitment to the agent but they will form a useful part of your network.

yes it is possible to buy, refurb & sell at a profit in sydney but transaction costs are high. In your case it’ll be around $50k + holding costs.

You might be well served finding a deceased estate in poor condition.

east Albury I think. There are plenty to choose from.

the price is & always will be related to those surrounding suburbs. Unless something changes dramatically, it will remain @ 70-80 % of the adjoining areas.

2 schools of thought

a) leave it vacant & lease it when you get possession – you will be up for all costs in leasing the house, you may have a delay between securing a tenant and them occupying the premises, you may need to delay access until make good works have been completed, house will 'smell' of being closed up for 3 months.

b) if the vendor leases it, they will pay for the leasing costs, you have no control over who the tenant is or their quality, the vendor gets the rent up to settlement, you may not be able do as thorough a final inspection as you like, make good works won't be done (if you are to undertake them), you get rent from day 1.

Options: if you agree to the vendor leasing the premises, then you should get a say in vetting the tenant (or agree with the managing agent's recommendation), you may need to pay part of the letting costs for the privelege, alternatively seek early access to find a tenant with lease starting soon after settlement (and any works you need to do).

well, the last couple of years has seen hume hwy upgrading so Albury is now bypassed.
Wagga, has just flooded, so need to be wary, likewise taree has similar issues – hwy & floodprone.

around my way most can afford to relocate before listing, so the cause is often irrelevant.

you can only ask & the agent doesn’t need to disclose the reason.