The counter argument is that you SHOULD find a suburb with a high proportion of renters. In a suburb of mainly owner occ's it could be harder to find tenants.
The Y-man
In that case, how about the older segments of Prahran / StK East / Armadale? (eg along Dandenong Rd)
New developments is harder where there are existing aprtments blocks because the developer needs to buy out from many strata owners.
The Y-man