Sorry, you are correct. I was confused. I thought you were saying that the weekly rental was around $20k.:o:confused::o
But there is Land Tax in Qld.
http://www.osr.qld.gov.au/land-tax/about-land-tax/land-tax-rates.shtml
I don't want to burst your bubble, but do you realise that the yeild is not that special. It is only just above 5% and that is the gross figure. After you deduct all your expenses (and don't forget Land Tax) you will be heavily neg geared.
