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Have you enquired of your friend why they bought that property? What are their plans? Do they have a cunning plan?

Depends on the particular railway station as to the ideal distance an IP should be from it. With regards Melbourne, for example, 800m from Kananook and Laverton Stations may be OK or even still too close. On the other hand an IP 500m from stations like Hawthorn, Glenferrie, Mont Albert...