There are exceptions, but not many.My policies are explained to landlords when they hire us.

To maintain the Premises in compliance with the applicable health and safety laws of the state, and of the local units of government where the Premises are located during the term of the Lease.

New Mexico governmental policies are historically unfriendly to businesses in general.  

Their policy changes including price increases, charging for every little thing as an "add-on", complicated GUI and the lack of fixes of known problems (posted by their "community" on a Facebook Group), and super slow ACH deposits (which take 10+ days!)

My policy is similar to @Bruce Woodruff.

For example, use crime databases provided by city governments or sites like NeighborhoodScout to find crime statistics by neighborhood/zip code.

This means their insurance policy will cover you on any claims made by the tenant.

Can't you get your builder's risk policy from the same agent you currently carry your general liability (for your GC business) with? 

Each municipality is different but you should be verifying the steps needed to get the this parcel shovel ready and consider that an insurance policy. 

When you talk about liability you can offset that by making sure you have a good Insurance policy and close the loan in an LLC.LLC protects you and your assets from lawsuits and any litigation from any and all accidents/injuries.