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Thanks BV, I expected serviceability to hit a limit at around IP 3 or 4 in this example. This is a key advantage of high enough positively geared IP's.

<bump> Anyone know how the issue of serviceability is over come in this scenario?

The only point I can't understand is is loan serviceability. With a 50k annual salary wouldn't banks stop lending to you after around IP 3 or 4 due to serviceability issues? From what I understand, even positive cashflow properties still need to be back up by a minimum income level unless...