*im the lady Seachange * ;-) I'm looking to buy a 2/1/- apt in the eastern suburbs in the next week or two. Not only is there not much on the market, but anything decent is still going well over listed price guide. Looks like the boom is still going strong in central Sydney suburbs with the low interest rates keeping it heated. Plan is to buy it, and have the option to neg gear within a year , then probably just rent somewhere else. 1. With all the promises of potential neg gearing being grandfathered, has it been explicitly stated that existing cap gains structure will be too? I've presumed so, but to me this is prob more of an issue than the headline issue of neg gearing . 2.After 6 solid months of unsuccessful searching and negotiating , should I step back and rent for a year until things cool off a bit? Risk is they may not cool off for a couple of /few years, because in my price bracket ( under 1 mill), the competitors are first home buyers, not so much investors. To use the 6 year rule for ppor do I need to live in the property for the first three months? That could be a problem if I have a lease already elsewhere. Ive been reading the forum pretty avidly since I signed up and enjoy it , I've learned a lot from you all.