This is exactly how you should do it! Not only that but try and find the best places in terms of rent, and make a ratio of: Rent/(apt cost + rates + interest), and what ever gives the highest ratio should be purchased as this will give you the best relative rate of return. Another note: Purchasing 1 property is rather minuscule, instead you should (if possible) Purchase multiple and leverage the mortgages against each other and use the rents to combine and pay off them selves, this gives a larger rate of return, and when the break point occurs (Mortgage paid off) You will be left with a larger asset pool.
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followed you locikll, tell me about it, let exchange more of this topics later. I also want to learn as many as possible!
Thanks mate, Yeah I definitely can mate its fairly simple stuff albeit some math required :P