Hello everyone, I'm a noob at all this but here goes. I would like some tips and hints or even what you might do if you were in my situation. Any ideas would be greatly appreciated. I want to buy a property, i don't no if i should buy a PPOR or an IP, and what the best type of loan for my circumstances is IO or P&I and how much i should/could borrow safely with rates at around 9-10% Alittle info about me to help you out! I'm 26, I live on the south coast of NSW, i have a stable job getting 50-60k a year. I have 50k saved and can get the 7k government FHOG and another 10k FHOG through my job and there is no stamp duty. I can live off about $500 a fortnight give or take alittle, I'm debt free, no CC or car loan. My father is a builder and i have alittle bit of experience in the building field with doing labouring for afew years so any renovations i think could be done relatively cheap. My thoughts are that i should buy a PPOR to utilise all the FHOG i can get live in it for 6-12 months while renovating it alittle bit and maybe trying to get a workmate to move in with me. Then move out and rent while having that rented out. I don't want a loan for more then 300k but that's up to debate as i'm not really 100% sure how much i could borrow safely, i have used them bank calculators but they dont seem to factor in bills and what not. Thanks alot for reading, and any tips and hints will be much appreciated. Cheers.