If your going to work on the package sources, then you shouldn't try installing it with your Python site—this will copy the sources to the interpreter's site folder, but depending on how the setup script is configured, essentials might be discarded, including test sources and other package-private bits unrelated to using it as a contributing package in other projects.
Instead you should try to do python setup.py develop
. The sources will be only be registered as a package path entry with your site, but you'll remain with full access to anything distributed with the package.