Firstly here's my situation; - I'm 21 and looking to buy my FIRST property. - I have found a cheap little studio I'm interested in, where the asking price is $159,000, I would be hoping to purchased the place for $150,000. - The property is typically banks wouldn't favor but I will have a Guarantor who will easily be able to back the loan up. (They own their home) - I will NOT be planning to live in the property at all, but rather lease it back to the Company I am buying it off for $230pw. My questions would be; 1. What other costs will be involved with getting everything set up? (i.e. Stamp Duty, Loan setup costs.) 2. Since I wont be living in the property for 6 months I won't be getting the FHOG, would this mean I forfeit it? Or could I use it on my next property? 3. Would I have to use/forfeit my first home owners benefit of not having to pay stamp duty? Thanks. And yes, I know typically investments like this have little or no capital gain, but with the way I've worked it out, this property will be positively geared from the moment I buy it. I really just want to get into the market asap and see this as a perfect opportunity.