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Thank you very much. Your analysis will be very valuable to me during my future search. I just bought my 1st IP and don't know when will be a suitable time to consider a 2nd one.

The East Melbourne apartment was listed at 90+K (can't remember exact figure) and the Flemington apartment at 129K. They appear rather low-priced to me but I don't know whether there are any "catch" in this type of investment property. I am inexperienced in property investment and am seeking...

Just clicked on their links to check their status. Found that they are both sold on 27-Nov-09. What a coincidence!

Yes, East Melbourne. Typo error.

I have come across these 2 low-priced studio apartments in South Melbourne and Flemington: http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=106099227&f=0&p=10&t=res&ty=&fmt=&header=&cc=AUSTRALIA&c=92907670&s=vic&tm=1259195693...