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There is a bit more to it that that. Where the deposit should come from, what sort of loan this should be, whether to use cash or borrow this, if you have a spouse which names on titles, which names on loans, private loans between parties including related entities, how to structure the loan on...

You could possiblly buy 5 or more properties in close succession worth about $500k each. Whether and how you would do this is the tricky part. You would need careful planning on land tax as well as structuring the loans - this would be relatively simple.