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Thank you all. Some very interesting and educational points raised and taken on board.

Thank you guys. I appreciate all the tips. The ad seems too good to be true in that you would think that all a sixty year old needs to do is to buy the place and then is set forever with a yearly income of 170k. No need to fiddle with a whole host of other investments.

http://www.realcommercial.com.au/property-hotel+leisure-nsw-parkes-501097147 As a principle I understand that long term leases are a good thing. In the advertised property, there is a 30 year lease. So surely this property must be an attractive proposition? For 1.9 mil it seems that the new...