@Marcus Rodger, I see every limited value in a lot fo books, especially about things like gearing and tax as the laws change frequently.In the NZ market the basic precepts are fairly simple.If you can afford to negatively gear safely and you have decide it is a safe enough strategy for you then pick the market with the highest likelihood of capital growth, which is generally, Auckland, Wellington and Hamilton, and start investing.There are markets where you can still buy cash positive in New Zealand but you need strong local knowledge and good boots on the ground to buy well in many of those smaller areas.

I think charging half is fair.

He did a good job and was more than fair to me (kept me in the loop, let me view the property before closing, did good with the paperwork timeline). 

Fairly common structure that has been discussed on the BP podcast many times. 

Smart sellers provide complete information (they almost always know more about the house than an agent) and they get professional photography.Also, in all fairness some of the listings that are done by real estate agents can be downright awful.

Fair enough, Terry. 

No transparency, no accountability to lenders, no communication with investors, no reporting, stalling inquiries, not responding to phones, texts  or emails was their modus operendi. 

Second question is more historical, how did the STR strategy in this area fair during the last downturn. 

Its a fairly quick process and you have a pre-approval letter usually the same day.  

I think the rental rate I've estimated is fair for the area.