Update developer instructions

Signed-off-by: Anish Asthana <anishasthana1@gmail.com>

Author: anishasthana

.gitignore

@@ -2,3 +2,5 @@ dist/
 .python-version
 __pycache__/
 .coverage
+Pipfile
+Pipfile.lock

README.md

@@ -15,26 +15,31 @@ Can be installed via `pip`: `pip install codeflare-sdk`
 
 ## Development
 
-For testing, make sure to have installed:
- - `pytest`, `pytest-mock` (can both be installed with `pip`)
- - The remaining dependencies located in `requirements.txt`
- - To run the unit tests, run `pytest -v tests/unit_test.py`)
- - Any new test functions/scripts can be added into the `tests` folder
-
-NOTE: Functional tests coming soon, will live in `tests/func_test.py`
-
-For checking code coverage while testing:
- - Start by installing `coverage` (can be done via `pip`)
- - Now instead when testing run `coverage run -m --source=src pytest tests/unit_test.py`
- - To then view a code coverage report w/ missing lines, run `coverage report -m`
-
-For formatting:
- - Currently using black v22.3.0 for format checking
- - To install, run `pip install black==22.3.0`
- - To check file formatting, in top-level dir run `black --check .`
-   - To auto-reformat all files, remove the `--check` flag
-   - To reformat an individual file, run `black <filename>`
-
-To build the python package:
- - If poetry is not installed: `pip install poetry`
- - `poetry build`
+### Prerequisites
+
+We recommend using Python 3.8 for development.
+Install development specific dependencies:
+  `$ pip install poetry pytest pytest-mock coverage black==22.3.0`
+
+Additional dependencies can be found in `requirements.txt`: `$ pip install -r requirements.txt`
+
+### Testing
+
+- To run the unit tests, run `pytest -v tests/unit_test.py`
+- Any new test functions/scripts can be added into the `tests` folder
+- NOTE: Functional tests coming soon, will live in `tests/func_test.py`
+
+#### Code Coverage
+
+- Run tests with the following command: `coverage run -m --source=src pytest tests/unit_test.py`
+- To then view a code coverage report w/ missing lines, run `coverage report -m`
+
+### Code Formatting
+
+- To check file formatting, in top-level dir run `black --check .`
+- To auto-reformat all files, remove the `--check` flag
+- To reformat an individual file, run `black <filename>`
+
+### Package Build
+
+To build the python package: `$ poetry build`