That I guess would be a 172 with a Lycoming?

The era of 182 (and 206) you would be closest to are Continental powered - one has a higher TBO the other mostly lasts longer than TBO both for the given cost.

Do not get me wrong I like Lyco's, but not in low utilisation aircraft.

Also I if I were you would find a fugly interior/exterior with adequate avionics C206 and that to be my preferred choice for a number of reasons.
A) you can hire it as a useful craft to others and that can include moving some freight. That can help with costs.
B) You can actually transport a family around with bags - Others may hire it from you for this.
C) It is fuel injected - no carb ice issues.
D) They are tough and take some very heavy landings not like the 100 series that have firewall issues after a big bump.

But do not exceed your limits, is also very important.

Bend_a_lot is right re: 206. I would hire such a plane on regular basis in a wink!

Hey Bendalot, Thank you for the advice on 182/206 and i will give them serious consideration

There is one very nice CT4/E for sale on trademe, parked at Dennis Thompson in Ardmore atmo. Nice a/c, IFR + aerobatics, 300 HP engine, 3rd seat takes up to 70 kg and all this for 130k+GST. And I am sure there will be those who want to hire it so you can supplement your income.

Hi Sgenie I am still a little bit away from any purchasing this thread is primarily my initial research thanks.

Great but far from practical for the OP's needs, he/she needs an aircraft not a toy. I think a local YAK 52 was cheaper, but again a toy.

Hi Bend alot, yes I agree totally impractical I'm most likely thinking of a cessna 152 172