Improve README.md for Development Environment Setup

[loftwah]

Ensure that the README.md provides clear, detailed instructions for setting up the development environment. Follow the current README.md instructions step-by-step to set up the project on a new machine. Identify any missing or unclear steps, outdated information, or any additional tools or dependencies needed. Update the README.md accordingly to improve clarity and usability for future contributors.

Tasks:

1. Clone the repository and follow the current README.md instructions to set up the development environment.
2. Document any issues, missing steps, or ambiguities encountered during the setup process.
3. Update the README.md with corrections, additional instructions, or clarifications to ensure a smooth setup experience.
4. Test the updated README.md by setting up the development environment again to confirm all changes are correct.