Help Starting out in Pre-Construction Deals

[Sam Green]

While I've learned a ton about investing over the past year or so, I feel like I'm seriously lacking in the area of pre-construction deals. I've got a few questions about finding good pre-construction deals.

1) Where do I find out about pre-construction projects?
2) There seem to be so many going up. How do I know if a project is worth getting involved in?
3) Does it matter which phase you get in on?
4) How much do you have to put down on a typical project.
5) Are there any things to look out for from a project bound to fail?

Any other words of wisdom would be helpful.

I figure this could be a great thread for all pre-construction newbies. Please contribute and help to educate us! Thanks everyone. 8)