However, due to the pandemic, I stopped the process to observe the housing market.

The competition you observed isn't just happening now. 

The ownership can preserved, but the execution simplified.This is not legal advice, rather an observation. 

I'm going to keep researching and once Covid dies down, I'll see if it's possible to physically attend any tax sale auctions - if only to observe and meet other professionals in the field.

My experience (both doing and observing) is that very few people go through with the lease option and thus lose the deposit.

Use this observation to help decide if your $111 per square foot is reasonable.  

Condos can still be a good investment, but there are just other factors and due diligence that need to be observed when you are entering that market. 

There's only so much coastal land and city centers, and they will continue to be the most desirable areas.What you observed in housing inflation in Florida is typical.

A well-diversified portfolio spreads risk across various industries and companies, reducing the impact of any single stock's performance on the overall portfolio.In conclusion, the hyper concentration observed in the stock market in 2023 has been both intriguing and concerning for investors.

That is actually fairly consistent with what I've observed with my own fourplex.