New to buying property

Hi All,

Need to seek some kind advices.

Myself and my wife are professionals working in Brisbane city, have a small substantial savings, which is enough to put down 20% deposit for a property. We are looking at $350K – $400K 2bedroom apartment close to the city for our own 'owner-occupied' use. We would like to venture out of OZ in 2 years time, which means this 'owner-occupied' property which we are going to buy will become and IP

If interest rates drop to 2-3%, i would like to get this chance to buy a 2nd property $300K – $350K for IP, which my substantial savings is enough to cover for 20%.

Q1.) For our 1st property which is going to be for 'owner-occupied' for the next 1-2years, and turning into an IP after we leave OZ, i assume the best mortgage loan will be PI since i wont be paying taxes and wont be able to claim negative gearings.

Q2.) If i am to purchase my 2nd property for IP within the next 1-2 years while i am still working in OZ, do i go for an IO mortgage loan 1st, which allows me to claim negative gearings for taxes? Once i leave OZ, only then i will convert the mortgage to PI?

Q3.) From investment point of view, will a Townhouse or Unit gives a better yield return?

Q4.) Would it be better that i go for a Mortgage broker, share my plan (buying 2 properties) with him, hopefully the lender is able to work out a better offer for me?

Q5.) Have been reading "Your Mortgage" magazine, is there any other magazines that is as good or better than this?

Q6.) "Your Mortgage" has a loan application checklist, also it mentions as a general rule, a budget of 10% of the purchase price is needed on acquisition expenses such as

Valuation Fees : $200 – $450
Conveyancing Fees : $1000 – $2000
Lender's solicitor fees : $250
Loan Application fee : $300 – $600
Annual package fee : $400
Stamp/Transfer Duty : Free for 1st time homer buyer
Lenders Mortgage Insurance : Applies only if deposit is less than 20%?
Mortgage stamp duty : Does this apply in Brisbane?
Government Charges : $500 – $1500

If the 2bedroom apartment is selling at $400K, does it mean i have to budget 10% of $400K which is $40K for the acquistion expenses? The above breakdown is less than $4k in total.

Thanks in advance for any kind replies and expertise comments.

Cheers
Nit