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Novice, you could ask your financial advisor to get a private binding ruling from the ATO on what you are planning to do re paying your mother an allowance who in turn uses the money to pay you rent from which you will negative gear (I assume). Dont want to sound pessimistic but this sounds...

if the LL charges less than market rent say 75%, then 75% of deductions allowable. still may make it a viable investment property

"Centrelink will ask where your mum is getting the rent money from" rent assistance and pension and boarder. Pensioners are allowed to earn some money before it affects their pension.

jaycee... LOL, CHam..its time to pull your head in son! Novice...do what you think is right Rust...its everywhere man, everywhere. Ive bought units with rusty balconies, yep raised special levies (couple gran), got it "fixed". Property value gone up heaps. If the problems persist, get it...

if you estimate the cost of repairs plus legal expenses is say 1.5m and there are say 30 units in the block. Then 1.5m PLUS 20% = 1.8m divided by 30 = $60000. Thats how much Id be knocking off the market value of the unit.