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Wow - alot of synics here ;) I think like any investing you need to run your numbers and do your DD. There are good and bad deals with DHA. Everyone I know IRL who has invested with DHA have had good things to say. Online, I have heard both sides.

Maybe in some places, but I know in canberra here they aren't even slightly interested in a private residence becoming DHA. We are building in Casey, and tried to speak to DHA a couple of times about taking them on as a tenant (either there or in any other residence we might purchase / build in...

It was my understanding that DHA manage the property, but that the LL was still the one responsible for the upkeep and maintainance?

check out the DHA website. Some of them a overpriced - but not all. Just like investing in any other property you need to do your research and know your area. I would actually like to buy one of these for my next purchase - although, I am going to be looking for one that has only 1-5yrs left...