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In a similar vein to the "under 200k good yield thread", I am looking for advice on where people think the best properties for under $350k are with a good percentage yield. I live in Melbourne and would ideally like something nearby, but haven't found much yet. Am starting to look elsewhere but...

Aged 27, currently with low income, but will be inheriting 200k "when i buy my first house." I want to invest somewhere and make this grow as much as possible, but due to low income don't want to borrow a lot of money. I also want to buy something which is reasonably low risk, and therefore...