what should I do with my money I am saving?

[Mandy Star]

I bought a condo with my mom a few months ago and I owe $120k on it. I have $29k in savings atm. I make $59k a year before taxes. I save about $2k per month. I have no car payment. We bought way under budget I believe, and I regret not buying an actual house where I can own my own land. Now the prices are going up dramatically week by week and I feel like I regret my decision. I may have missed my chance at a good buying opportunity earlier on in the year. 

Another reason why I bought under budget was because I believe my job isn't stable and that we could have gotten shut down again. Luckily we didn't and I'm making more than I ever did in my life. I've been working in the work force for only 5 years. At my current job I have been at it for 2 years. My first year I made only 35k but now I am making significantly more. 

So anyways, because I am saving quite a bit every month, I want to purchase a better house in the next year or so in the $375k range (because of home appreciation and inflation). I want to rent out my current condo once the pandemic is over and the eviction moratorium has expired. The rents are only at $1400 per month in my area and I don't want to charge anything over the average rent even though my neighborhood is really charming and peaceful. The neighbors are nice too and not problematic. In the next year I am hoping the rent will go up to $1500 or more and it would make more sense to rent it out. I would probably then cash flow about $500 per month which I would use towards a second mortgage.

Should I do this?...I am guessing homes will have appreciated by another 20% in my area. I want a nice yard, a big kitchen, and a big bathroom, with low maintenance. 

With homes appreciating so quickly, I am worried about being priced out of the market. I am trying to get a second job also which would boost my income to at least 90k a year.

I want to enjoy my life as a young person, but I want to slowly build a passive income real estate business year by year. I want to start acting now and invest wisely. The good thing with corona virus is that I did not travel anywhere and I was able to build up a beefier emergency fund. 

Also do you think I should just keep the 29k in my bank account, or do I reinvest it into index or mutual funds until I am ready to purchase a house? I am scared about inflation eroding away all my savings and purchasing power. I am not sure how soon I will buy another house so I did not invest my cash yet. By the end of this year 2021 I will have 51k saved up.

What do I do with the 51k? Do I take the Dave Ramsey approach and pay off my current condo, or do I take the Robert Kiyosaki approach and try to leverage debt and buy another property, while rent out my first to generate passive income? I personally like Robert Kiyosaki more even though Dave Ramsey is a nice guy. I believe in investing in assets. I don't believe in letting my cash sit in one place for too long because of inflation. So I am glad I at least got start in something.

I am just trying to figure out what to do with my future income as quickly as possible. I want to make the right decision by investing in real assets and not phony ones on the internet like crypto currencies. I have made that mistake before.

Please share your advice.