What I wanted to say - is that investing in commercial property is not for the faint hearted. Especially in the country where manufacturing and export business is ruined by the highest interest rates in developed world and mining boom is over.
Short term rentals are OK as long as you have the ways of properly screening the tenants.
The only thing I do not understand is "owning property outright". It is like having pile of money that do not work for you. I am always on guard to have my properties mortgaged to the max.
Besides, many people do not know that there is no difference between mortgaged and unmortgaged property here in Australia. The very term "mortgage" is meaningless here. I learnt it the hard way. One marvelous day I was served summons for bankruptcy proceedings. Telco was unhappy I did not pay the final bill which was lost in the mail. And it was explained to me that creditor can get hold of any of my assets they like, and they do not have duty of care to sell it for the good price. In other words, if they fancy to sell a million dollar house to the dog of their CEO wife for a dollar - it is OK.
In brief - owning properties outright is not a valid method of asset protection in this country. I am not in the business of giving financial advises, but if I were you - I would have mortgaged everything to the max and would have bought more using these monies as a deposit.