Q1 I thought property investment was for high-income earners or the  wealthy?

Statistically in Australia, over 70% of property investors are on incomes between $35,000 and $40,000 per annum. Over 90% of all millionaires become so through investment in real estate.

"It's not how much you earn that counts, it's what you do with what you earn"

Q2 What if I have no deposit for an investment property?

What you mean is that you have no cash deposit. Cash is not really necessary when you have equity in your own home. Having sufficient assets against which to borrow is all that is required and in this way, you can borrow the full amount plus all the additional costs.