I do not think options 1 and 2 are mutually exclusive, in fact I think you should do both. 

Quote from @Ehrich Roberts: G’Day,Grateful for any advice in relation to mortgage options in British Columbia where liquid capital in combination with rental income would be accepted towards qualifying for a mortgage. 

Hey BP,I know this question has been asked often, but I've been struggling trying to find an investor-friendly insurance company. I am located in Maine and have 2 six unit buildings, 2 four units, and a 5 unit. What a...

It's not worth my time to deal with the hassle of conventional loan anymore, so I don't even consider it as an option.

@Ryan Dori lots of options besides DSCR. 1 Year income, Asset Depletion, Bank Statements, and P & L only loans. 

One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.

Quote from @Sarah Kensinger: Reach out to @Jeff Chisum and see what options you may have for this property. 

I think a mix of housing options is important, but ultimately it comes down to what people will buy and space. 

You aren’t owners with lease options.

There are many options for skip tracing, most just send a query to a single database while others hand-scrub the lists for the results.