You only have one mic?
Is it all vocals and MIDI then?
I have two mics: the blue baby bottle and the shure ksm32. my mic plugs into the grace m101 preamp (phantom power), and the preamp plugs into the interface which sends the sound to the DAW (recording software). It's a pretty tight chain, I've never had any latency issues.
I just bought those yamaha mixing monitors yesterday, I used to use the KRK Rokit 5's which I never liked because they didn't seem to catch high end too well, and didnt really hear my reverbs good either.
Saturday morning I woke up and driving to get coffee I finally got mad enough that my mix sounds way different in the studio than in the car, and thats why I decided to go ahead and do a professional sound treatment job and also get new monitors.