Rent arbitrage opportunity? Rent in high vacancy CBD, lease my PPOR

Per the title, I can see vacancies in Docklands Melbourne are increasing rapidly, while it is roughly stable in my PPOR suburb...

Docklands:
View attachment 38305

My PPOR suburb

View attachment 38306

Asking rents are already cooling off considerably in Docklands.

What are some of the risks in renting in Docklands and leasing the PPOR?

Risks I can think of:

• Impossible to get a landlord policy for time being - would need to save my own cash 'insurance' buffer
• Difficulty in finding tenants to rent out a second bedroom in Docklands (I'd rent a 2/2/1 apartment)
• Difficulty in finding suitable tenants for PPOR

But benefits:

• Likely improved serviceability on future loan assessments
• Comfortable DINK lifestyle in well located and equipped apartment
• No myki fares
• 5 minute commute (once office work resumes)

Mod note: I wasn't 100% sure which topic to post this under.

 

Sorry about that, attachments not working on this device.

Docklands vacancy as at April: SQM Research - Property - Residential Vacancy Rates - 3008

Home vacancy as at April SQM Research - Property - Residential Vacancy Rates - 3039