Dynamic sub-domain -> sub-folder webroot rewriting (more documentatino here: http://stackoverflow.com/a/17890602/109026)

.htaccess

# goes in folder that holds symlinks to project files (/home/jim/sites/dev)

RewriteEngine on
RewriteCond %{HTTP_HOST} ^([^.]+)\.local.dev
RewriteCond %1::%{REQUEST_URI} !^(.*?)::/\1/
RewriteRule ^(.*)$	/%1/$1 [L]

RewriteCond %{HTTP_HOST} ^([^.]+)\.dev\.local
RewriteCond %1::%{REQUEST_URI} !^(.*?)::/\1/
RewriteRule ^(.*)$	/%1/$1 [L]

vhost.conf

<VirtualHost *:80>
	ServerName local.dev
	ServerAlias *.local.dev *.local
	DocumentRoot "/home/jim/sites/dev" #folder for symlinks to project files
	Options Indexes FollowSymLinks	
</VirtualHost>