Hi all...we are looking to buy an IP on a fairly limited budget..sub $300000. We have decided on frankston which aside from its negative image actually seems to have a lot going for it...good schools /public hospital with recent major upgrade/ monash university/tafe/biggest theatre outside of melbourne/plus close to beach with upgraded waterfront facilities and plans for more/east link and peninsula link and only 40 mins to melbourne. Now obviously 300k budget won't get us much so my question is do we buy a 3 bed house on 650sqm land in frankston. North (yes I know it's the "rough" end of town). Or a brand new 2 bed apartment in frankston south? The purchase price and expected rental return are fairly similar for both. I do believe that in the long term frankston north has the potential for some serious capital growth mainly due to its location but I may be waiting a while lol, alternatively frankston south probably has better short term growth ahead of it but surely an apartment won't increase in value as much as a house? I'd be interested in any opinions but please keep the negative comments about frankston to a minimum