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.

I'm looking into investing into warehouses, development land, offices, restaurant spaces, etc.

Baltimore has some pretty strict requirements for STRs, the most significant being that it must be your Primary Residence (I don't believe we can post links in the forums, but google "Baltimore City Department of Housing & Community Development Short-Term Rentals" and it should be your first organic hit).If you're going to go down that path, make sure that the numbers work as a long term rental once you're ready to move on.

Develop your criteria and be specific on what you are looking for - (location, type, minimum cash flow, minimum CoCR..etc).

If it is a development play, what is the development spread? 

I would start off first by developing a comprehensive capital raising strategy.

In a recent article, SW Florida was named as the second largest in home development in the nation!