Brisbane vs Gladstone

Hi everyone,

This is my situation
novice investor
1 1st IP in Sydney, -ve 2000 pa after tax
2 looking in Sydney but dunno if I have missed the boat
3 have budget of up to 400000 for 2nd IP
4 aiming for -vely geared but CF neutral/positive property after tax/depcn etc. but happy to wear slight negative gearing for potential CG upside

My question
1. Do you think Brisbane, Gladstone or Sydney presents better buying opportunities at current markets and going into 2010/2011
2. If so what would be your top 3 suburbs to look in?

Many, many thanks for any advice!!
My opinion and alot of media hype and other investors would suggest Gladstone. With your budget and criteria. Maybe a little riskier but with a little risk can come alot more reward.