Valid points, v8ghia. I was hoping that the $1800 remaining after repayments would cover most of the costs of the property (council and water rates). I don’t plan on getting a property manager while I only have one property so that can be a saving. I will probably end up using a few hundred $ from my own pocket for repairs or any unseen costs but I don’t mind doing that for a year, as I plan on doing some renovations and increasing rent after a year (hopefully making it cash-flow positive). Also, I am currently saving the deposit for a property, I wont need a loan for that

Thanks Xdrew! Just realised how much research is ahead of me. I’ve only just started working so I do have quiet a bit of time before I have enough money saved for a deposit. Hopefully my first IP will be purchased end of next year (if the market is right). Thanks again!