Paying off a mortgage in less then 10 years?

[Dale Viljoen]

I have not studied to much about real estate, I have read the Ultimate Beginners Guide by Bigger Pockets, side course with 6 lessons and about 10+ articles from bigger pockets so I have the general understand of everything. The course taught me some good calculations that everyone should know and told me to put it to the test on a local MLS. Everyday I have a look and just calculate things to try and understand more. Before asking my question I just want whomever is reading this to know I am still learning alot by the day so would appreciate it if you gave me advice/help instead of getting bothered.

My question is, Is it possible to pay the mortgage of a property you are renting in less then 10 years? I looked at apartments and houses in a similar price range. The one I chose to go in full detail with I found that I was making roughly $250-300 NZD (170 USD) after expenses (Dis-including Mortgage). Now the problem is to get out a $700,000 NZD (460000 USD) mortgage with a 50000 NZD (33000 USD) Deposit I would have to do minimum repayments of 800 a week. Now as you can tell that's well over what the house is bringing in. I guess the leads to another main question that has been playing on my mind. How does one even purchase a property that is able to pay for weekly mortgage and expenses.

Thank you for reading my question, once again I appreciate all feedback.