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Easy. I even factored in demolition and subdivision costs (spread over two properties) in that rough example. It will only be a cheap build because I'm not planning to live there long term...more for investment.

Thanks for the confirmation. Well, I assume the land itself does go up in value, that's what capital gains is? The house on the land is garbage at the moment. But then there is the subdivision which splits the value of the land in half. Let's assume I bought the property for 400k...

Thanks for the reply. This is is the first I have heard of it, my accountant hasn't mentioned that. Any idea of how long I need to live there to make it a PPOR after it has been an IP for the 3 - 4 years? I bought it in July last year, and looking at completing development in 2012.

Hi guys I'm on looking at developing IP2, which is on a 950m2 block near the city, in a few years time. The plan is to subdivide and build a small single storey on one side, and possibly a larger double storey home on the other side. I will rent the single storey out as an investment property...