There are a lot of market-specific issues you'll have to grapple with and also, there are plenty of landmines in MFR on its own in CT that you'll have to be ready for, in addition to the nuances and complexities of developing something like this.

gauging interest in miami smaller hotel developments like this on .1 acre. 

I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh 

One of the topics was him developing 5 acres in town near the golf course.  

Be skeptical of the developer's claims, as your property's value likely won't see substantial growth until the entire development is completed and sold, which could take several years.

you have to learn land entitlement. we identified a site today for hotel development that was an 18000 sq ft lot.

Here are a few high level thoughts for you as a beginner:-Don't lend in second position-Don't do deals with new investors-Don't experiment with new strategies, even with experiences investors- ie, don't jump in to a first development project with someone just because they've flipped 20 houses. 

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

Hi @Konstantinos Lembesis When Settling on a market develop some metrics that you can not only measure the market you are interested in but others that you havn't considered yet. 

This year’s most popular areas are known for being fast-growing cities with plenty of new development, with healthy job growth in Florida and Texas in particular.