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Yes of course you have to have some money into your first deal. But after that, if you buy correctly, you can refinance and never have to put any money in again. I started with an ordinary PPOR with a small mortgage and no cash but in 5 years I made well over $1m using NONE of my money.

Yes I am paying interest but it is tax deductable. As I said I'm better off puting my cash into NON deductable things. Some people buy with 80% because they have to (or choose to). You see my LVR is so low that it makes sense for me to buy at 105%. I have no cash sitting around to use for...

Only if your goal is to get to 0. Even if you only borrow 80% you have still paid for in cosats (roughly 5%). You need to calculate this. Where did the other 20% come from? Assuming you had it in the bank, you now forgo the interest you would have earmed from that. You have not factored...