If you were looking at buying in Florida, but your lender is in NY or California, they dont really have to be as concerned about their reputation because the realtors (most likely) will never work with them again. #1 is the primary reason, but #2 does factor in as well.

Focus on the big moves: security, renovations, and cutting dead weight. 

If not, cut it all out and put down some strong sturdy plywood.

I am concerned that it is a ponsi scheme.  

Let them build through hard work like teaming with reputable operator who may take a cut but own the project etc.Neal Bawa and associated companies are another bunch or lier’s who project rosy picture to sign up people but fial to deliver.Those two have made my experience with real estate very companies very negative.

Please see my earlier response to address your concerns.

Sharing your concerns can help others learn and overcome similar anxieties.

Some do not subscribe to Facebook, out of concerns for privacy.

I would shoot him a text and follow up with a letter through the mail to be 100% sure if I was concerned.

Cut rates until it rents.