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You are correct regarding the selling costs a CGT. At some point your parents will need to take charge of thier own investment path. If they want to lose money by undercharging rent by approx $100 per week then that's thier choice. You put them on the right path, but they need to walk the walk...

The Adelaide IP looks like it's probably due for a serious rent adjustment. $230 p/w is way too low. That should help a bit. Selling this property now would leave them owing only $45k. So that is always an option and should put them debt free in 3 -5 years with the $100k LOC still available. How...