Hi all, This is my first post and I am looking to purchase my first IP. I do not own a house, but I rent with my partner in an area we like so this will be a rentvesting thing. I'm looking to buy something around 600m2 land under $500k, an older place that we can renovate and add value while waiting for capital growth. I am not looking for a short-term gain, but am happy to wait for 5-10 years. So far, I have a list of 20-ish potential suburbs scattered around North-West and South, also considering Geelong/Ballarat but that is for another conversation. I will go see in person these suburbs and do my own research, but I would like to hear opinions and first hand experiences if possible. A good thing of Dallas/Coolaroo/Campbellfield/Thomastown/Jacana areas is that they are fairly close to CBD, with Dallas being only 16km from CBD. Given gentrification of suburbs close to CBD like Footscray and Northcote, I see a potential there. On the other hand, Frankston North is close to the shore, and there are many projects going on around Frankston indicating that this rough area might also get desirable in a foreseeable future. On the other hand, commuting time to CBD is quite long relative to North-Western suburbs for under $500k. What are your thoughts?