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Good on you Bludger, I once tried to talk a friend out of it and they got their back up and went ahead and flew to QLD with intent to buy. They didn't buy thank-goodness. I didn't ask why, but I could guess. She did tell me before she left that if she wasn't going to buy that property...

Hi Carolynn, I wouldn't do it. The alarm bells for me are $200/week and the new estate. It sounds to me like you may be investing in an overpriced property. Did he give you a Rental Guarantee? Alot of people have fallen for this type of investing, which may suit you if you are not...