Q.

I recently sold my owner-occupied dwelling and still hold an investment property. I will be residing overseas for a couple of years. Should I pay off the investment property, invest the return from my home into another form of investment, or simply put the money into a good savings account earning 6.75% pa? I also want the flexibility of using the funds if needed within a short timeframe.

I certainly wouldn't be paying off the investment property as you will be losing potential tax benefits from that property forever. As flexibility is important to you I suggest you invest the proceeds in one of the online accounts offered by the major banks paying around 7%.