For comparison, the national housing inventory is also at a 4.2-months supply, according to NAR;- Townhome/condominium sales fell 2.9 percent year-over-year, with 641 units sold.

Any innovative strategies for purchasing a condominium in Florida while avoiding future excessive HOA recertifications?

Of the top 20 or so largest metro areas in the country, DC is the most affordable with median home prices being roughly 4 times the median household income. 

This works pretty well in cookie cutter or condominium complexes, but can be pretty far off (a flippers full profit margin) if in a diverse area.Sources for larger MF:Loopnet, Multifamily search in MLS, Commercial search in MLS.Best of Luck!! 

I would like to get out of the condominium market and more into the single-family and multifamily house market.

Good point Amit, if Joanna's question is regarding her condo conversation, then no rent control.Some Units Have Limited Rent Control Coverage Single Family Homes/Condos—You do not have full rent control protection if you live in a single family home (note that a single family home with an illegal in-law unit counts as a 2 unit building) or a condominium and you (and your roommates) moved in on or after January 1, 1996.

I currently live in Southern California just north of Los Angeles near Malibu, and investing here may not be a reasonable choice at this juncture given what I have saved, my combined household income (with spouse), and the market values around here.

As a SoCal resident, I can say that purchasing and renting condominiums is no problem.

Not like most loan places who just take your income and calculate it against your credit report and some verbal back-and-forth about "household expenses" giving you a "pre-approval" amount that is usually WAY off which leads to the good old stories of sitting at the Title office ready to sign and you get the "oopsie" phone call saying you actually have to come up with $X,xxx.xx amount more to close - happens all the time.

I also took on project on my duplex so I was able to learn how to do household repairs and learn what larger products cost.