Some banks do and some don't and even the banks they do – do not do it all the time.

Are the salary credit regular or irregular?

I would take that $400k and buy a 1000sqm block in MD.

Re the group – do a google search and you will find plenty of interesting feedback.

I think its more a question of when it will settle in the early 90's. 

1. Make sure the properties are standalone

2. Different lenders use different valuers so the equity available may be different from lender to lender. Most lenders now days offer free upfront vals

3. If you are planning to develop the properties be careful of selection of lender as it multiple dwellings and construction policies differ from lender to lender.

4. Keep the loans are variable if you are developing to give yourself flexibilty in case you get a crappy val upon completion

Yes it does matter and it depends on the lender. Lender will have restrictions in terms of LVR that they will lend to. So for example, some lenders will do 60% whereas others will do 75%. Alternatively you can do a hybrid build. 

Either way its a no brainer to do the work yourself – just be careful with choice of lender if you decide on a OB. 

Renovating is a great idea for obvious reasons and it will help create CG and further equity but what is the long term plan? Are you looking to convert the property into an investment?

Are you looking to draw upon the equity against the property to fund for further purchases?

Where is it? What is the strata? When it comes to quality you can only see the cosmetics – what about things that you cannot see like waterproofing, etc. 

Its not that its credit card or a personal loan – the issue is that its unsecured lending and its a high amount. So 2 x cc's at $20k a pop is going to score badly. Even the lenders that don't credit score will have issues with such high unsecured debts. 

some tradies charge to provide a quote and some don't but those that do need to advise upfront and ascertain approval before providing the quote. 

Plenty lenders don't credit score like Macquarie (but they only go to 90%), Suncorp and ME Bank but there are other factors to consider. The credit card is fine but the personal loan will not "score" well even with lenders that don't credit score because its unsecured lending.  And no the lender's that don't credit score do not charge additional interest. 

Just remember that at 95% lend – do not submit the loan unless you are confident of an approval. Another hit on your credit file will just make things a lot more difficult.