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david the finance is backed by the rents you will get and that income stream plus the deposit or equity from your first IP, wait and see what other say about this. good luck with it any way, and BTW their is no one bigger on value adding than me realy.

in my experience the best house in the suburb/ unit in a complex is usually pulled down in price due to the others that surround it, and rearly held up on a pedistool, do your own numbers, and ask why some of the units have sold more or less than others??? no one gets to see inside them all to...

sorry david look at it this way, you have ip #1 value at 650k you spent 50k and the new value is say 740k and may bee you get the better rent, or not, OR you keep ip #1 at 650k value and borrow another 450k using your 50k you were using for ip,1 and purchase ip#2 & ip #3 which have a value of...

dumping $$ in a high end property in my opinion is not worth the paper its written on {ok then plastic} if your going to spent $50 bloody k on anything it would be a loan of $500k asa deposit on two more run of the mill 2 bedroom units, and $200 on a coat of paint and some sugar soap, ??? sorry...