Versatile Kayak or Canoe for $300? Looking to buy my first boat...?

That boat is not more than a glorified pool toy. In fact it is completely unsafe for open water like Lake Erie -- the Coast Guard will turn you back to shore if they see you try to take it out. Cheap inflatables are slow and are susceptible to waves and wind. They are NOT suitable for extended trips because they are difficult to paddle straight, have no storage and track horribly. They are only for fooling around in small lakes for a few hours. And forget taking a dog in one. You absolutely can NOT take this thing in whitewater. In fact, there are few kayaks (and certainly none in your budget range) that can handle both whitewater and touring or open water. Open water and touring require a long narrow boat with sealed bulkheads and storage hatches. Whitewater requires short flatbottomed boats with small cockpits (so you can wear a sprayskirt) but that can't track well in flatwater. I don't think you know enough about paddling to make the right decisions about what to buy. Before you waste even $300 take an intro class in kayaking and/or canoeing. Until you see what the types of boats handle like and get some instruction in how to properly handle them you should hold off on buying. Go to a competent dealer, like REI or L.L. Bean (NOT the big box sport stores like Dunhams or places like Walmart) and talk to a qualified paddle sport salesperson about what you want to do. Even if you can't afford to buy what they stock it will educate you. Also, if you know someone who kayaks or canoes, have them help you find something used on Craigslist. The best choice for what you are thinking of doing would be an Old Town Guide 147 canoe. YOu can often find them for under $300 used and they will accommodate a dog, two people and camping gear and be MUCH for enjoyable to paddle than an inflatable POS like the sea eagle. Before you attempt the Big lake or whitewater you need to know much more about boating safety and how to properly equip a boat with flotation. Niether of those kiinds of outings are "do it yourself". Only attempt those with an outfitter or in a group trip with experienced paddlers. I want you to experience the joy of paddling but NOT become another statistic. People die every day in the US going out in kayaks and canoes without knowing what they are doing.

i'd suggest a second hand plastic kayak- mines a pyrahna acrobat, second hand and i can do most things with it. that cost me £50 (so about 80 USD) a simple plastic kayak like this http://www.cheltenham-canoes.co.uk/products/pyranha-kayaks/acrobat.htm is a great all round boat :) obviously if it is a secondhand boat, give it a good check over or get a friend who knows what they're doing to give it a look to check you're not being sold an unsafe boat or just being ripped off :)