So I am in a position where we want to buy a 2nd property but don't know what strategy to take. So here's my situation, we bought 7 months ago at the bottom and got a good buy in mt gravatt (mansfield catchment). Few small renos later we will have about $130,000 in equity. We're 32 married, kids this year i hope and we earn a combined 120k potentially 160k if jobs change. Current loan 350k, we repay about 3.1k monthly and have no other debits. We could take out another loan of 400k to buy a run down place to build and sell, or reno and rent or I was thinking how do we go about new build of a home we like costing about 400k where we currently are and then rent that out till the kids are ready for school in about 10 years (wife likes the area). That way to get it paid off plus depreciation benefits etc... and then buy a cheaper house under 500k and reno sell or rent that, and move on to the next. I'm comfortable on the southside from Rochedale south/underwood to city. what other questions do we ask ourselves, what do we do next. My aim to to pay my PPOR off by 40 and either flick a few houses by then a have some under rent. Do-able?