Cash Deposit or Equity??? Your thoughts

I just want to get some of your thougths. We bought, done up and are now selling our place. At the end we will have made about $100,000 in the year we owned it. This along with our $80,000 that we originally had gives us quite a bit of money to start our next project. At the moment we are thinking, after much research of buying another do up in QLD for around the $300,000 mark. I have found areas, although others say there are none left, where I can buy +ve cash flow properties. What is everyones thoughts. Best to use most of the $180,000 for our do up and redraw on that to purchase +ve $ properties? Or use the minimum needed deposit for the do up and split the rest as deposits on other +ve $ properties. Or use the minimum needed deposit for the do up, and buy outright a $80,000 place and redraw on both homes for more +ve cash flow props. Your thoughts would be much appreciated.