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Thanks for the reply. So would the purchase price be determined by the valuation? And do you know if it complicates things that we own the house?

As we are moving onto a new PPOR, I am currently considering whether we should keep our PPOR and make it an IP. I trust this has been done many times before although I have tried a few searches but cannot find where this has been discussed before. Specifically, I would like to learn the...