Where to buy first investment property outside of GTA and GVA ?

[Cloud Huang]

About me:

- Recent university graduate (international student) who is still on work permit. Don't expect to become a PR within a year. Because of this, GTA and GVA are out of question due to the 15% oversea buyer speculation tax. ( the tax ruins the leverage and return )

- Have about 150K CAD for downpayment. Annual employment income is about 200K. Therefore, mortgage potential is between 800K - 1MM

- Investment goal: achieve appreciation with the leverage provided by mortgage. I am willing to accept negative cash flow for extended period of time.

- I work in Toronto now and will relocate to US in 1-2 year time. I have a demanding job, therefore any strategy that is time-consuming will not work for me 

Question:

If I would like to get into the market right now, what is my best option ?

Should I look at pre-construction properties (I will be PR when it closes -> no tax) in GTA ? If so, what type of property and in which neighborhood ? Is downtown condo a good choice at the moment ?

Should I look at pre-owned properties outside of GTA and GVA ? If so, which city and what type of property ?

Thanks so much for your input and contribution !