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Pretty sure that 7 year exemption only applies if you don't have another PPOR at the time it is being rented, i.e. you can leave the country for 7 years and rent it out, but you cannot buy another and move in there and still claim the CGT exemption on the rented property...

Ok I just re-read your post and it sounds like you're not planning on selling, you only pay CGT when you sell. So when you do go to sell any of these properties you've built... see my last post re CGT :) 800k for house and land is pretty pricey to be doing over and over without selling. How...

You won't get full CGT exemption if you rent it out. The time it was rented as a percentage of the time you owned it, will be the same percentage of the value that you have to pay CGT on. It's your PPOR as long as you are living in it. The CGT reduction to 50% applies to rental properties...