help new to this whole thing

Gday peoples

Ive sorta read a couple of things and are thinking of buying my first property .

so lets begin im thinking long term to a long term goal

in 2010 im 28 years old with 50000(saved hard )

now i was thinking of buying a very cheap place somewhere on the coast of australia , dont care just on the water .

for 2 reasons to say i own a place  and to start the ball rolling .

i love the beach so not fussed where .

so what im thinking is to use it as a holiday home for 4 weeks  a year rent it out for say 50 dollars a week the rest .

since im buying it outright i have no loans .

so then i want to buy my second property , but rent out the first property say at 50 dollars a week .

then get a loan at 100000 at 8 procent repayments 150 a week

so use the 50 from property 1 , then rent the second property for 200 a week

so then i have 100 profit from p1 and p2

then buy 3rd property at 250 000
loan at 360 a week .
rent for 400 a week

so then profit from p1 p2 p3 equalls 140 a week

then buy 4th property at 500 000
loan at 725 a week
rent for 800 profit 65

so p1 p2 p3 p4 profit 200 a week .
then put the profit of the properties to costs like upgrades or fixing the place .

i would do all the hiring of tenants so no real estate costs . if the place isn't let then i need to pay .
 im really lost with the tax ideas , so maybe i should make a loss verse the loan amount so that the tax man doesn't get me ?

of course this is a rough idea , but will it work , what am i missing or am i dreaming ..also i have time , but i dont want to sell and im hoping growth over 10 to 30 years so when im 65 the places will be paid off i sell some and live happily .

im sort a lost but hopefully there help out there .

what do u think any other way i could look at this ??
could i use the quity of the first place to help somewhere

thanks thomas
email me also if u wish .

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