I'm looking at buying a 2 bedroom 1 bathroom apartment in Carlton VIC at approximately AUD470k, and I'm looking to rent it out in the short term and owner occupy it in approx 10 years. The size of the apartment is rather smallish - approx. 60 sq metres. Is this a reasonable price to pay ? I'm aiming for long term capital appreciation, but will settle for short term negative cash flows in view of future appreciations.