Should I buy a plot of land?

[Tyler Sellars]

I own a 4 unit right beside a mixed zoning plot of land that measures 145 x 95 Imperial with a proposed plan of an 8 unit building. (6 residential, plus 2 commercial spaces on the ground floor)...

I wonder if I should buy it and try to find a developer to go in with me. I bring the land and management experience and they bring the developing experience. 

My gut feeling is that I'm too early into the game to do this, I should have larger savings account for something like this, but I figured this community might have some good ideas of what to do.