First house decisions

[Brad Anderson]

I am looking into purchasing my first investment property in the next year (Goal is by May 2015) and I am faced with a few questions/concerns....

I have been researching a lot of different options and he's my thoughts for far.

Budget 250,000 CAD  (Have been Pre-Approved)

Located in Ontario, Canada

1. Buy a house with an in-law suite and rent out the upstairs hopefully cover mortgage payments 

2. Buy student rental and use buy and hold strategy 

3. Buy house with unfinished basement, finish basement forcing appreciation then do the same as option 1 or 2. 

My problem is that I am young and don't have that much money and my goal is to build up a portfolio of houses as quick as possible so I want to choose an option that will let me do this.

My thoughts are to force appreciation by renovation then rent out and refinance the property to buy another rental income. 

Questions...

I have heard it's harder to get refinanced now as they are tightening up on who to lend to. How do I know if I will be qualified or they will let me refinance. 

The US seems to have a lot of opportunities what are the rules for buying a house there when you don't live there ? (Will it have to be all cash or bigger percentage) 

I am open to new ideas and thoughts as well 

Thanks in advance !

Sorry for the newbie questions.  

Brad Anderson