The value of the property, the quality of tenants, and your long term goals with the property are all factors as well.Wishing you the best and I am happy to help if needed.Kathy Scott

A lot of my clients do this, and will either finance the renovations with 0% interest cards (if they have high enough limits), or use their HELOC. 

REIA meetings and events are a great place to meet individuals with experience in the local market so yes, I highly suggest that you join them specially since your learning REI.

Rates are still somewhat high but are coming down and if you can make the numbers work you will most likey be one of the few buyers so you can scoop up a good deal ! 

We aim to start with flipping houses to build capital for more significant future investments.The high cost of properties in Sydney is challenging ($2M), so we are considering exploring a more distant but cheaper market.Is it a reasonable strategy for first-time investors?

We highly recommend to our clients they use some form of asset protection.

Lastly, I want to make networking and hopefully even finding a potential mentor a high priority.

We have great +750 credit scores, a +6 month emergency fund, money set aside for the down payment (both emergency fund and down payment are cash sitting in a high yield savings and rolling 4 wk treasury) in addition to a taxable brokerage account I have built throughout the years in the event we need to leverage it for a pledge asset line.

@Vy Lewelcome. i'd read this:https://www.biggerpockets.com/forums/48/topics/1159104-overl...it's gotten especially challenging to invest OOS with prices AND interest rates both so high. 

If your self employment income is not high, it's likely that your deduction saves you more tax than the self employment tax you would pay.