I've done detail property (buy to rent) calcs as well and compared the investment via investing in shares. The property investment was the superior investment (by miles), but it is important (in order to maximize the investment) to use is little cash as possible (go for max bond), keep costs low and finding investment property with good yields (aim for 10%+). The net result is after I've done the calc, I've sold some of my shares (used as deposit for investment property). However, important to point out I still have large portion in tax (property is very long term investment, not very liquid, etc.). Cash deposit for property investment was sized to get good interest rate & ensure that the property is breaking even from day 1 (I went for 80% bond). I am planning to run property at minute loss each year for tax purposes.
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