Looking to convert multi family property into condo units

[Mohammad Hassan]

I currently own a 3 family home in park slope, Brooklyn.  The zoning is R6B.  I have always dreamed of getting into real estate development.  The property is owned free and clear with no mortgage.  Here are two options I have:

1.  I intend on demoing the property and potentially building out 6-8 units.  

2.  I think I can get the neighbor to sell her property which is semi attached to mine - for an even bigger project. 

Either way I will need capital.  I can maybe get some close people to invest with me but I am not looking to bring on too many investors.  

I want to get the ball rolling, but I don’t know where to start.  I don’t even know the questions I should be asking.  For example, how much capital would I need?  How long can such a project take? 

I’d appreciate any advice.