I haven't seen anything suggesting this is not a lab activity. Yes, MTx2 is the limit.
Yes, you can. This is written in the ArM5 section on binding the familiar. However, the first season has a minimum level. If you cannot achieve that, then you cannot bind the familiar at all yet. Once you can achieve that, you're fine. It shouldn't be too much trouble in terms of the MTx2 limit. I can't see most familiars requiring more than a 40 lab total or so, and that doesn't require a very high MT. I suppose you could have trouble starting with a large dragon with high Magic Might, though. In later seasons you can increase the lab total; since you only have to spend the difference in vis, the MTx2 limit rarely becomes a problem later.