If you're still interested, take a trip to the site once ground has been broken.The flashy marketing material for a new development is great, but don't put your money at risk for something that's likely to vaporize.

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

The interest that it does accrue is money you don't lose, but rather it does go back into your investments. 

Goodin Development has no filings with the SEC authorizing it to raise money, has not pulled any permits and is not mentioned in any of the numerous news articles discussing the development and the companies involved.If you are thinking of sending Justin Goodin or Goodin Development any money - THINK TWICE!!

The days of cash flowing and not leaving any money in the deal is gone(unless it's a unicorn). 

I fund their deals 100% they make money I charge nothing up front I only make money when they make money we get paid the same day off of the HUDs..

Can you use the money and get a better return?

This is true for all private money lending situations..

When I make money, they make money.  

How much money is owed to investors?