I assume you mean a low deposit IP. You can always positive gear a property with a big enough deposit or clever renovation. I would be very surprised if such a mythical IP actually existed. Sydney rents have been stagnant for a while now as growth has charged ahead. A bigger mortgage means higher repayments which always seems more than the rental income.
When we get a period of no growth, low interest rates and rising rents the mythical positive geared IP may return for a short while before it disappears again only to live on in investors hopes and dreams.
5 % is quite good. I have recently seen a dual occ returning 18 000 on a buy price of 267 000, so around 7 %. To be making money ( my view of cashflow positive is it has to put money IN your pocket before depreciation) you need near 10 % rtn.
Most lenders consider you to be "revenue neutral" at aroudn 12 to 15 %.