Forget suspension and get a good used brand-name bike. One of the worst investments you can make is to buy a cheaply made bike with the intention of upgrading it. You are better off to start with a used high quality bike and then replace parts with better versions as they wear out.
Ok, makes sense. Used is out of the question though. Too many bad experiences. But if I were to consider a no-suspension bike, where would I go to meet my budget?