Don't forget that your rates and body corporate fees will be tax deductible - you should get some tax advice prior to doing this to make sure you have everything documented so you get the most you can out of the tax savings that come from an investment property.
Well my brother has an investment property and says we will be too much out of pocket because the rental income is lumped in with our taxable income and you don't get to claim the interest that you pay on the mortgage because it was a home loan and not an investment loan first up?

I'm very confuzzled.. LOL