Investment property for student accom

Hi all.

I have had no home in Australia since separating from my wife 4 years ago. My divorce was 6 months ago.
I have returned from Asia where I was living well for about $1000/month as my son needs to start Uni and lived 2 hours away so I bought a t'house next to the Uni and have rented one room to a student in similar circumstances and one room is now occupied by my son awaiting his student allowances and the start of uni. The other room is my lockup master room so I can leave and travel OS.

I need to get income from this to live...both tenants should earn me nett $150pw and I have a small online hobby business that earns me an irregular $100 - $200 pw. Before I had the interest from the money I used to buy the house at average 5% but that fell away with interest rates.

If my son cannot get C'link rent assistance I will have to remove him for a paying student tenant. He will then drop out of uni ( or not start in March) and probably go back to night online gaming /daytime sleeping as he did for the whole of last year at his mothers house while she extorted child support payments from me.

My income is barely enough to live a 'no frills' existence.

Any constructive suggestions are welcome.

 

Sorry but I'm not really sure what you're asking? Advice on what to do re tenanting your TH? Can you please clarify?