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One option would be to talk to a provider of marginal housing solutions. These groups are non for profit and primarily funded by giovernment. In Melb I suggest you start with Melbourne Housing Company who will point you in the right direction of the right group for you. Essentially these companies will act as the head lessee and worry about all the other issues themselves.
Only trap is they are usually limited to properties that met min requirements in term[upsidedown]s of building codes and fire safety regs etc due to the public nature of the operations and they are limited in the amount of rent they can pay to met their guidelines for affordable. I know Qld is 74.9% of market (believe other staes to be same). However given the nature of the property and the high vacancy rates and churn it evens itself out to be market.
Each of the groups have a particular tenat slant, eg women escaping domestic violence, youth, indegeneous, single men etc so it is useful to find a list of all the providers in your area and pick that ones that are aligned with your objectives.
If you goes this path you can usually qualify for signifcant concessions in development (eg high plot ratio etc) as most state and local govts are trying to encourage private investment into the traditional “welfare” market.
