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The downside is that you can buy houses on subdividable blocks for under 200k It would be fairly easy to get 8 or 9 % on these Yet this one is almost 400 I think 300 would have been a fairer price Even then I would be worried about capital growth

Well with Brisbane shaping up the way it is I would buy for capital gains. Mind you , you can still get a 5% yield in good areas which will negate your interest expenses at 5%. So all you will need to fork out us rates , management fees and insurance., done maintenance so say 5k all up or 3.5k...

Also mad Seriously for 400k you can buy a house on a decent size block in suburbs much closer to Brisbane or look at something bayside You'll look back in ten years and be happy you went for the older house in a better area on a bigger block

You would be mad to buy a house and land package in bundaberg for 400k