I’m a developer and thinking about building a lean solution to do this. 

We are looking into developing the land into multifamily (quads or duplexes), but have never done this type of project. 

Is there demand to purchase the lot and develop as a private parking lot, with the option to rent space/access to the  tenant/owner (gov't)?  

But you can always start with the CPA and move to the attorney as your business develops. 

I've developed my own system, that involves the following:1 - The 3 Pillars (mine) of REI...Market Analysis, How Money Works, and Developing a REI Plan...and how all three are equally important, and must work as one.2 - My REcapS System (a system within a system) that is a 3 Level circular (perfect) system where Level 1 feeds Level 2, which feeds Level 3, which comes back and feeds Level 1 again (thus the circle, or perfect system). 

I am a graduate of Rose-Hulman Institute of Technology as a Computer Engineer working from home as a NoSQL database developer although most of my career has been spent as an automation and systems engineer.I am a new player in the real estate game having started the marathon just 2 years ago when I attended a Guru real estate seminar.

I have purchased two homes using Zillow to identify properties in my target area which were previously on the market and never sold.  

I made an offer, but since they are developers I doubt they will take.

Its an excellent resource.I am a Realtor, Investor, and Developer in Southern Maine.

And yes, agree with the above - Raise Rates NOW,  AND construct more buildings if possible AND look for more ground to develop more units in that market or look for conversion opportunities as well.