. $52,000 (assuming 80% loan which are available) This would also create an excellent cash flow scenario for Australia where the rent should cover all of the bank interest, ongoing holding costs like building maintenance/body corporate fees, property management fees and annual tax returns.  

You will have difficulty keeping non student tenants and will have to deal with possibly ongoing complaints if you do not inform all applicants in advance that there are student renters.

You also aren't discounting the fact of on going CapEx reserves.

One obstacle with this deal that I ran into is there is always one sibling who thinks the property is worth a million dollars.

I plan on going to a lot of the local REI events.  

For example, the home may generate 30K a year in income consistently for 3 years but there are no ongoing contracts in place to prove this is consistent (like a lease) so unfortunately it's difficult to show that value.

The turnover costs may be much higher than normal, as could the ongoing repairs costs.  

Do not freak out when you make a mistake,  Learn from your mistakes and just keep on going.  

I ask because when I ran just the interest I was getting a positive 10% COC ROI. 

I usually stop at on going jobs when I'm driving around and introduce myself and get business cards.