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This property is interesting http://www.realestate.com.au/property-house-vic-melton+south-119689343 Advantages of the above property. 1) It is a house on a large block that one day you should be able to subdivide 2) It is close to the railway station 3) It seems to be in great...

If you want a one bedroom apartment (which take forever to sell) have a look at these. http://www.realestate.com.au/property-unit-vic-albion-118396895 Has a tobacoo smell to it, but will get good rent. You just have to hope eventually the area will get more desirable, but unlikely to go down...

If $350K is your budget look at 2 bedroom apartments in Footscray with a car space on the title. Try not to get a 1 bedroom apartment.

What area are u targeting and what type of property. Melbourne is a huge area.

Speak to a broker, plenty on this forum and work out your true budget first. You will have more options than u think on 350k budget as long as you are willing to look. What type of property are u after and would u consider large regional areas like ballarat, bendigo, geelong, etc,