buying my first home.. suggestions?

[Joseph Cho]

Hello, Im located in metro detroit area, I currently have about 30k saved up for a down payment. I was originally looking to buy a condo thats around 200k for my parents and i. My question is with that kind of mortgage under my name, would i be able to invest in rental properties within a year or two? Im afraid i won't be able to make any kind of investments because i'm tied down with the big mortgage. Any other options to consider? thanks in advance

Annual income 60k

car payment:500/month

condo rent: 1250/month (contract ending in end of April)

no other debt

this is my current financial situation.