Reducing home mortgage using cashflow from negatively geared IPs?

[RumpledElf]

Sorry guys, I am confused. I've been doing a lot of research (maybe too much), I cannot seem to find a scenario that is CF positive so I've been looking a lot into serviceability. But again, all I find is that the speel re: "you can have this for only $75pw" or whatever isn't actually accurate. As that $75 is only on the IO loan, not accounting for PM expenses, rates, water etc etc.

Converting a PPoR to IP is CF+. We owe ~75k on ours and are waiting for the rent appraisal but expect it to be about $200pw (give or take), higher if furnished. Couldn't get that negative if we tried, although it will have pretty hefty depreciation attached so you never know.

There's a house here for sale at $160k rented at $220pw if you want half decent yield too. The house could really use a lick of paint and a fence (and probably a lot more work than that too) but upfront that's pretty good.

I'd rather be paid *anything* per week than have to *pay* $75pw.