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Not entirely true, you can access equity in your PPOR to purchase IPs. So if adding value to your PPOR allows you to access more funds to purchase more IP's than that's an option - it's probably not the best option but still an option nonetheless. Obviously you won't be able to claim renovation...

I don't know, I actually enjoy researching, finding, purchasing and talking about property. I first got into it for generating wealth but now I see it as an extremely expensive hobby that I enjoy :) For the OP - renovate! Add equity to your existing stock, draw a LOC and purchase again.