Other expenses (Rates,Insurance,Water,Mang.Fee's) = $5,000
Total outgoings = $34,000
Rent @ $400/wk = $20,000
Tax saving on $34,000 outgoings and $10,000 deprecation at a marginal rate of say 40% = $17,600
The truth is it will cost you very little to own an asset that will appreciate at say 8%pa. Your investment will be worth about $610,000 after 5 years for an investment of say $50,000 plus buying costs. Now there may be shares that will give you a similar return but I don't feel qualified to suggest which.
These are rough figures but are more realistic than Aurelius or Penny.
The only advice I would give you is to do your homework and don't listen to people who do not know what they are talking about.
