wwyd?

hey guys, wanting to know what you would do.

currently working full time earning $170k/year. partner still studying in uni, but will graduate and earn ~$100k next year. already have a PPOR bought in 2024 that i am now renting out, $450k debt left, $150k in offset, rental income approx equates minimum bank repayments.

currently very lucky to be living rent-free. however we both will likely need to move to GC next year for work. ideally, we have it figured out either we move into our own property vs rental before we start working (rather than commuting).

borrowing power for investment property is about $900k. less for a property to live in. this is based on only my income as partner hasn't started working yet.

what option would you choose?

1. buy an investment property (house/townhouse) and rent. rental income probably somewhere $700-850/week. repayments likely low $1000s. will likely need to then pay $600-700 on rent. this seems more flexible and can generate greater borrowing power. worried however about when we officially settle down and have kids in next 2-3 years, and want to buy our dream home, that we may not have enough.

2. commute 1hr+ until we can afford a more expensive property together?

3. buy a cheaper apartment/unit on the GC to live in until we save enough money for a house, then rent this out. less favourable due to body corp fees $$ and less capital growth

4. sell current rental property for more cash?

or other brilliant ideas?

TIA!!!