He wanted to finish developing the property by adding more storage units, but the current Director of P&Z told him the zoning has changed and will only allow him to place "tourist-related" businesses on the property. 

I also recommend reading blogs and forums or watching videos on how to develop a good roommate contract, house rules, etc.

I do not have the capital at the moment to invest into any type of real estate but i am starting a new job in August and want to develop a plan, therefore i can jump in and execute when I have the available capital. 

Material Participation in a Real Estate Trade or Business.This is pretty straightforward but you must materially participate in a real property trade or business, such as development, redevelopment, construction, reconstruction, acquisition, conversion, rental, operation, management, leasing, or brokerage.2.

I'm particularly passionate about growing quickly from SFRs into Multi-family and currently developing tools to source and assess deals.Outside of real estate, I enjoy long-form conversations with brilliant people, or at least watching them when there aren't other people around to converse with.

Certain forums and podcasts I listed to mentioned that pools are a big trend currently though they tend to be in newer developments that do not necessarily have views.

Quote from @Imdad Rahman: Hi,I'm diving into real estate syndications and working on raising capital for a couple of new development and value-add multifamily projects I have in the pipeline.

For example, a bank would never give someone like me who hasn't built before, a loan to build like this, but we are doing it through our company which has a great track record and I will buy it upon completion.I mainly went with a new build because I thought it was a very unique opportunity given the connections I have working in a development and property management company.

I can assist you in understanding financing options, analyzing deals, and developing strategies that align with your investment goals.If you have any questions or would like to discuss your plans further, feel free to reach out.

Ask yourselves what you hope to achieve—are you interested in generating passive income, building equity, or perhaps developing properties?