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You can do even better than that. I get $750 per week rent on a house that cost me $305 000 and cost $6000 to reno. I pay electricity and water and internet, so minus $100 per week for that. But 10.86% return still isn't too bad. I really don't know why more people don't get more hands on...

I wouldn't mind doing up that place at woolloongabba. But I'd want it for $450k not $650k. It has a lot of work to be done. And I highly doubt it's really 6 bedrooms. Woolloongabba would be a good suburb to have a 5 bedroom house in. Rent each room for $165 per week to the students at UQ.