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almost a decade ago. with the cns economy and home prices more indicative of the world economy than the rest of australia i don't think there's any rush to get in. the trick is to find someone who is in rush to get out - you obviously found that person.

units all in the 3M area. i wasn't saying your rent expectations were unrealistic, just that you would still be getting a good return even if you did have to drop the price.

are you buying it with a tenant in place? the cairns rental market has been very blue of late. even if you have to drop the rent to get a tenant you'll still have a very good yield. congrats! i'm tempted to get another couple of these types in cns, but i'm a bit over exposed to the cns...