Thoughts on Gympie as an investment area

I'm a first time investor but have been given the opportunity to purchase in Gympie Qld from a well established builder at cost value..so i should get an instant 45k equity at turn key stage
Rental return should be around 5-6 per cent..capital growth may be a longer term thing
Does this sound like a good opportunity?
 
I looked at gympie a few years ago. Not much in the way of jobs. Lots of ghetto and it floods quite bad. Can't see much in the way of cg. I'm sure there are cases for and against but I went with the later.

James
 
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