I know a few people that have bought pre construction, and you really really just have to do your due diligence.
Find out how many buildings they've completed. Go visit the developers completed projects if you can and see how the buildings are wearing over time. What kind of retail do they have? Are there lots of units for rent in their completed buildings or lots of owner occupied units? See if any units are for sale in the buildings and check out the interiors. Note anything the owners have had to change, or fix. Don't believe renders. Go to the city and ask to see the plans if they aren't available online to get a clear idea of what the finished building will look like so you aren't surprised.
Almost everyone that lives or has lived in a Stinson building has nothing nice to say, so it's hard to feel bad for these people. They believed his sales pitch without doing any research (plus I'm sorry but who on earth would give someone with this website 500k?
http://stinsonproperties.com/ )
Not every builder is bad, but the city really dropped the ball on this one. Stinson barely finished the Stinson School, and Gibson is still sitting with minimal activity on site after how many years? I don't know who the other qualified bidders were but there had to have been a better option than Harry.