end_of_consmos, I would not say Tasmania is the right place to invest in given rental demand. I guess this would have to be vetted with a search but given these uncertain times, I would rather search for large population areas that have a lower median value—maybe somewhere in Queensland. This way there is a reduced risk that the property will remain vacant for longer than necessary (rule of thumb should be two weeks annually).
Iam TheState, I am not sure why you chose to outline when the second and then the third property will be bought? I you trying to insinuate that the first property should be bought in a area that will experience enough capital growth so that you can leverage the growth into the second and then third purchase?