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Actually looking at my first post I should have been more specific, this will be my first prop and PPOR, so I'm informed by my accountant that stamp duty goes away, and if I live in it for 6 months so does CGT. Neverthless, I do want to pursue this as a strategy, not just a once-off so will...

Thanks everyone, I was originally looking at refinancing instead of flipping but had been talked into flipping, it's interesting (and valuable) to hear what you all think! Might start looking at units closer to home then! :-)

Hi all, I'm just starting out on a reno path, and don't have a ton of cash, probably looking around the 300K mark for first purchase, and would be hoping to spend an additional 20-30K on a cosmetic reno and on-sell at 390 ish. I'm living in Sydney and working full time so reno would be...