Although the stock market can be pretty speculative, Real Estate Investment Trusts (REITs) are a way to get involved in additional real estate investing without necessitating additional loans and down payments, of course it is important to save up enough to buy in a lump sum that keeps your cost basis low even with the addition of a commission. 

Competition among hedge funds and 'big money' speculator buyers.

If you are not able to find the problem, I would say move on to the next deal rather than guessing and speculating.

This is speculation and not considering the inflation I may not even go for the deal.

That's not investing...that's speculating, and you'd be rationalizing the deal to be a good one.Also, just because you have the money (current job) to cover the negative, doesn't mean it's OK. 

To me, that is speculation. 

If you are looking for strong appreciation, it may be OK, but that's pretty speculative.

It is being offered at a good rate and it seems like they are moving into the direction of converting it into a warrantable condo-association but that is only my speculation.

Or in this region on higher end turnkey properties that offer a lower cap-rate and are purchased based on speculation. 

You may want immediate cash flow to lower your immediate cost of living.You may want to build a portfolio to add to your retirement later in life.Or you may want to speculate and purchase properties in areas that you think are poised for dramatic growth in the future which will return huge equity gains.