I went to Brisbane in 2002. Looked around Logan, Kingston, Beenleigh, Deception Bay etc but ended up buying 5 x 3/4 br houses in one weekend in the Caboolture/ Morayfield area for circa $100k each, renting for $150-$160 pw.
Worth now $300k+ each and renting for $280-$300 pw each. Still holding.