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Within the last 18 months. One property is 400k and returns $910 per week and about $150 less after bills. The other was 320k and returns $750 and $150 less after bills.

I don't know how I missed that. But I'm pretty sure that's a lie because the place is zoned as a single unit dwelling. They are probably just certified with the fire department but not actually registered with fair trading.

I get 10-12% with my properties based on a total purchase price including stamp duty, reno's, etc...

lol no I rent to max 5 people as that's the max allowed amount by BCC. And I keep it all on the one tenancy agreement. Renting to over 5 people, aka 7 people isn't allowed and the realestate agent is inflating the actual possible rental yield. Which doesn't sit well with me.

Do realestate agents get in trouble for advertising a property for uses that are actually not approved? For example this one I just saw: http://www.realestate.com.au/property-house-qld-mount+gravatt+east-115400995 They have it advertised as renting per room for 7 rooms. That's not allowed...

Wow really illegal in Brissie. Plus 7% yields are crap anyway.