Capital Markets to MF Development

I currently work in Capital Markets Advisory, but have had a strong desire to make a pivot to multifamily development. I have some startup capital saved (~$400K) and really don't want to work for anyone, so I'd like to start my own shop. I'm just not entirely sure how to go about it and learn. I know a ton about multifamily real estate on the finance side, but development is another animal which I've had minimal exposure to. I was thinking of maybe getting a MRED, but I don't know if I could go back to school after 8 years. Also, I wouldn't want to take a year off and lose out on that income. Currently pulling anywhere from $300 - $500K annually depending on the year, so I'm also very hesitant to leave my current role until I feel comfortable with the development and have 1-2 projects lined up.

Has anyone had a similar experience, and if so how do you recommend learning more about the development process and nuances? One suggestion I've received is to shadow a developer for a few projects; that's something I'd consider but my concern with that is losing the autonomy/income I have now and working under someone who may ultimately not be a good teacher or not allow me to be as involved in the projects.