I'm a Young go-getter - love you!
I totally agree with your sentiments that there is no one size fits all answer because our needs/wants are all so different and will continue to change as our lives and requirements change.
Do you mean solely as a strategy with no other factors?
Yes there are people that still do.
I'm not one of them - I use capital growth as part of my format but not the sole component.
After my first development I cottoned on that it was no more expensive to build in a blueish chip area...
The other way to make cash flow + in a good suburb is:
1. Develop so that you get low buy price. Eg my Gwelup properties cost $475k each and will rent for $650 pw.
2. Renovate or convert a room to an extra bedroom. This takes some money and/or skill.
3. Rent out short term or by the room.
