Assuming that you are not into renovation, etc., you will have to choose either to increase your cashflow or maximize the capital gain. As a rule of thumb, you will be looking for cash neutral or positive properties for the former choice, or cash negative properties for the latter. You shall also consider what the tax implications of your investment strategy.
You also mentioned diversification. Let's say you have 600k to invest. You may either invest in one property of 600K or two properties of 300K. Obviously, you will be looking at different areas (in Sydney) then.
Assuming that you are not into renovation, etc., you will have to choose either to increase your cashflow or maximize the capital gain. As a rule of thumb, you will be looking for cash neutral or posi ...
Exactly. Different strategies will give you different results (and probably affect your lifestyles). You need to know what you exactly want, and then it will be clear how to get there.