Sounds like you’ve got a solid start with the Point Cook property, especially if you’re comfortable being just $400/month out of pocket. 👍

A couple of things you might want to double-check before locking anything in:

Make sure the area’s upcoming infrastructure and amenities support long-term growth.
Think about your hold period — if you’re aiming for 10+ years, the risk looks lower; if just a few years, it becomes more speculative.
Good luck with your investing journey!