Is your PPOR suitable for when you have a family? If not, consider this before taking on too much debt with smaller properties.
Consider buying one larger place to eventually move into and then make your current PPOR a IP.
As acorn pointed out, Sydney and Melbourne markets are topping out and will more than likely go through a period of flat to slightly negative growth. So consider waiting a bit before jumping in with all your funds. Doesn't mean don't buy now but make sure if you are buying now that you are getting a really good deal. I speak of this from experience, bought my first IP at peak of '03 boom 5% below market and still saw zero growth for a good 7 years or so.
