Purchase price: $75,000 Cash invested: $600,000 Sale price: $269,000This is my largest new build development to date.

Most people that have been in school as long a you have develop high standards for themselves and others. 

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

(Land and construction cost, expected sale price, etc.)My last development in Chicago looked like this:Land = $300kConstruction Cost $650kHolding Cost/Closing Cost/etc. $50kProfit roughly $100kThat project was in Bucktown on the nw side of Chicago.

Not to mention the economic development steps the town is taking in ensuring the growth of town (roads, schools, zoning) stays on par with the future expected population growth and new jobs that are going to be a result of the new factories opening.  

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

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

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 

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.

Perhaps a seasoned lender can step in and correct me if I am wrong!