I just had a good service from a small company in Brisbane named Advanced Depreciation Services
(07 3889 1552). They were very thorough and under $500. They presented findings in report and a nice accountant-friendly spreadsheet just in time for my tax return.

Don’t know of any free ones, but you should be able to get a report from http://www.residex.com.au. Not sure if they have a generic one for NSW but certainly for specific postcodes.

Zuki, sounds like a good deal to me. I would look closely at the cap gain opportunity as well as likely rent increase over time to give you some protection from possible interest hike over the next 2 to 3 yrs, but at today’s rates it sounds like a very good deal.

I like these deals even more if they offer the ability to split title, giving you lots of flexibility down the road – i.e sell two and keep two. How does it look when strata/management costs are taken into consideration ? I would be interested to know where the block is located and how the opportunity pressented itself as I am alsways on the look out for similar opportunities myself.

As far as the bank goes, I think in this market if the valuations are supportive and you can present a solid business case with risk management considerations then it should be a no-brainer.

Rgds.