I’m looking into purchasing my first investment property and I have about 650-700 to play with according to my bank. I could buy something small/low quality for half of my budget, and get lower rental return, subsequently accumulating wealth at a slower rate than if I got something towards the top of my budget. Before anyone chews my ass, I know rental income is not directly proportional to property value.

I live at home with my parents in Sydney at 27 and am pretty much priced out without a 2 hour commute to and from work each day, so an investment property seems like the best decision to make while I’m still living here. I’ve been looking into apartments but like the idea of something freestanding a lot more given the property value side of things and flexibility in doing things (touch ups and the like) without needing permission from strata, which means it would be a fair bit further away from where I currently live, a few hours every few weeks for maintenance etc is fine.

Any and all advice from anyone who can share some insight would be greatly appreciated

Edit: permission > permission from strata**