BH is rubbish which is reflective in banks' policy. I would look at a price range of at least $120k -$150k before considering investing in an area. 

I would need more information but at 80% and four dwellings on a single title is doable. You would be looking at CBA or Adelaide as the best lenders for this scenario. Best to get a CBA banker or broker to look at the whole application and then structure it accordingly. 

Shukri is excellent but very pricey. 

how many units within the title? also what LVR and interest rate are you wanting?

Which state or council is this?

The mortgage product is standard, i.e. variable, fixed, LOC, etc. We did a similar loan for a forum member whereby they subdivided their block and kept the loan with the current lender but moved the subdivided block to another lender due to the valuation amount of the other lender.

So in short yes doable and very common. To be on the safe side – its best to do an upfront valuation. It can be a bit complex so worthwhile engaging your banker or broker.

Couple of points:

1. Yes you can do want you are saying and it is a very common strategy. From a finance perspective you will need to let the lender know. The lender will order a valuation to check a few things – DA, LVR, price of each block, etc. Make sure you run this by the broker or banker upfront. Many lenders offer upfront valuations so if possible take advantage of this before submitting the application

2. Be careful paying off your loans. You can achieve the same results whilst maintaining flexibility and maximising your tax benefits. Ensure that you set this up correctly.

Which state is this?

1. Order a Building Inspection – you dont need pest inspection for strata.

2. Ascertain the AGM report and sinking fund and have your solicitor review this

3. Get finance ready. No one can answer your questions re finance structure unless they have sat down and determine current and future strategy. Generally speaking a lot of investors go for variable (particularly with yesterday's rate drop) interest only. Fixing is not a bad option either but you need to understand pros and cons.

4. You will possibly need a rental letter from the agent for the bank

5. Based on the below figures you are not positively geared – I think this is because you are taking only 80% of the loan rather than 105% of the purchase cost.

you need to do points 1-3 ASAP and before the cooling off period. why are you going with CBA?

Get an 80% lend – this will allow you to use a portion of the $330k. Have the account as an IO with a linked offset. Have the excess funds sitting in the offset account.

You will may the lower interest but when/if you convert it to an IP the property becomes taxable due to the principle amount on the loan. Have all your salary deposited into this offset account and this will give you the outcome you want but the flexibility of converting to an IP and making full use of that or it allows you to accumulate funds for the next purchase.

Before you get your finance – come up with the strategy and from there you will be able to determine how much you of the $250k you spend on IP 1, IP 2 and so and even the area to purchase.

Properties in Newcastle, Parramatta and Inner West have completely varying strategies which tell me you havent really nutted out your longer term plan.

I personally (and still do) high LVR lends on loans  of up to $300k. 

Also don't pay your loan off ASAP. Again depending on the strategy and the type of investor you are – it may be worthwhile accumulating the funds in an offset account which will help support a fairly aggressive ip plan.