Hi all, Im brand new here so go easy on me... Im currently living at home since returning from an overseas backpacking adventure. I have 1 IP that ive had since about 2005. 2br detached unit in Seaton (SA) which I paid 210k for, and currently recieve $270 a week rent. A collegue of mine has a property that was fire damaged out at Parafield Gardens which sits on an 800sqm block. He was renting it out until his tenants decide to leave the playstation 2 on a little too long and it caught on fire and caused over 100k worth of damage. Since then the property has been vacant and has just been sitting there. He's looking to sell the property for $235k. The current blocks of land in that error are being advertised for around the 160-170k mark for about 350-400sqm. My questions are - How much would it cost (approximately) to knock down and sub divide the block to a stage where i could then sell off the 2 blocks with building plans or without. Where should i start as this is all new to me? (council, surveyors? etc) And... Do you think this could be a good investment opportunity? Cheers in advance!!