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It’s a little easier to be rational about buying an investment property than buying a home.  Since you don’t plan to live there you can inspect places with a more business-like eye. To make your investment a success you really need to do your research before making an offer in order to predict how your investment is likely to perform both now and in the future. You should consider issues such as:

Location

Recent sales and rent history

House versus apartment/unit

Maintenance costs

Current and future infrastructure and planning issues

Features that may appeal to tenants

Once you get serious about a particular property it is advisable to get a building and pest inspection.

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This advice is general and does not take into account your objectives, financial situation or needs. You should consider the PDS and Terms & Conditions, available from IMB, before making a decision about products related to property investment.