Buying a house/condo advice?

Just want some advice and some thoughts on what i'm going to do. 24 years old, making $60,000 a year, buying a condo that is $495,000 (1 bd 1 bath & office) with 20 percent down payment ($99,000). Monthly cost will be $2,609 (Mortgage, taxes, HOA fee) so i could rent it out for maybe $3,500. I am still living at home and they don't want me to move out, so i'm thinking of buying the condo then renting it out. Would that be a good long term investment and make money off the rent then maybe in my late 20's sell it and move to a house? Thanks everyone, really appreciate the advice.
Added (1). Probably should have mentioned, but i have $200,000 saved up right now, i've just been saving from my job. Does that make it more possible?

Read more: Buying a house/condo advice?