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 

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. 

As there is a general flight to affordability, the new developments don't fill as quickly, and rely on concessions and/or lower asking rents to fill up.  

I actually ended up going through a big career change, and attended a 6-month bootcamp to learn Software Development after 7 years cooking professionally in fine-dining kitchens. 

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

The Pearl is predicted to turn this area to a GLOBAL medical hotspot- forever changing Charlotte!

There are good relations with the neighbor so this likely wouldn't be terribly difficult to pull off, but I haven't ever developed a property from scratch so I would definitely like the opportunity to partner with someone on this to help ensure the success but first I want to finish the smaller property to have sufficient funding available if it is needed.

For every $100 million in public subsidies, approximately 1,157 co-living spaces could be created, compared to 313 studio apartments.The Bloomington City Council is reviewing potential ordinance language to facilitate co-living spaces, considering factors like parking, minimum square footage, and the definition of "family" in housing contexts.As real estate investors, it's essential to stay informed about such developments, as they can present new opportunities and models for investment.

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

Back to my primary point--do your diligence and develop your own sense of conviction on the purpose of this venture.