Take a MM for example.
In the most optimistic scenario, a 1st time buyer (no ABSD) bought direct from developer & sell it 5 yrs later.
484sqft @ $1500psf 726,000
3% stamp duty 16,380
Conveyancing fee for purchasing 2,700
Interest forgo from the 1st 20% DP for 5 yrs 7,300
Loan interest for the remaining 80% for 2 yrs 18,000
Conveyancing fee when selling 2,700
Agent commision when selling 9,000
Totol cost (equiv $1616psf) 782,080
Rental income for 2 years 68,000
Less Maintenance fee 5,280
Less ppty tax 6,800
Net rental income 55,920
1. ($1800 - $1616) x 484 = 89,056
2. Net rental gains = 55,920
Net gain = 144,976.
Selling the MM at $1800psf ($300psf gross profit) will only earn a total profit of $145k for a period of 5 yrs.