dumb investing...live on bread and water, page-30

"The rent from the IP would be cancelled out by the $400 in child care fees with Mum back at work."

Okay that is probably fair enough.

"I know that 55k in Melbourne would be about survival mode. In Perth that would be struggle street. "

I am sorry but in no way shape of form would $55k be survival mode IMHO anywhere in Australia when you already have a roof over your head. Being very generous all bills rates, water, electricity etc if we allow $20k then that leaves $35k for food and clothing. Jeez if you can't get by on $35k for food and clothing then it just shows how out of touch people are with responsible living - that's $670 per week.