House hacking is a great way to start, you can learn how to be a landlord and develop those relationships along the way. 

I also got pre-approved to get on the waitlist in this new development for 625k w/100k down payment.  

She's extremely sharp and someone you'll want to develop a strong relationship with. 

I went back to the Local Tax Collector and after a half hour of research and phone calls, it appears that when the original ONE parcel was subdivided into THREE parcels 29 years ago, the property owner never recorded the deeds with the Bergen County Clerk (which was in violation of the terms with the town who approved the subdivision: "the Developer agrees to promptly record the Deed in the Bergen County Clerk's Office.").

Although the bank in FLA is not small regional its GA based regional .Other wise for some of my spec loans I did in Charleston when I was at my credit limit with the local bank I used Lima one for over flow.  18 unit might be bigger than they will do.Can you develop it in phases so your not having to go out on the limb and borrow a big chunk at once ?? 

NETWORKING...Focus all your attention on these for at least the first year so that you can develop a solid base to build on.

I'm curious if anybody here is developing small multifamily. 

We are a land development company in the Raleigh area. please send me a PM to let me know some details.

Because of its location, I cannot have two proper units, but can have a main unit and an ADU or rent as one house (although I'm hoping the new development will bring a change to my zoning code) The basement has 8ft ceilings and is completely finished but I'm thinking of digging down behind the rear wall to add a full bedroom and reconfiguring the floor plan to accommodate another room, kitchen, and door to walkout (2 bed/1bath unit).

I was in software development until 2020 and now I do real estate.