Can this be done safely or should I not try?  

He doesn't do the loans or set up accounts, he doesn't have any operational control of the business and therefore is not entitled in any way to those profits, yet he does contribute to the over all profits of the bank, he keeps the place open. safe and clean.A GC did not find the property, contract or buy the property, (I agree they need to buy it) they are not taking the financing risk, the market risk, paying carry charges, insurance, taxes, loan costs, they usually pay material costs and advance labor costs so it doesn't come out of the GCs pocket.So, the GCs risks are pretty much limited to collecting his own contract nothing more.

If the note is on a residence you can't prohibit early payoff under the SAFE Act, I suggest you follow the Act with any new modification.

Guess it's safe to say there is not really a place for this in a successful rehab business.

(It's also looking pretty terrible along the front as they had to remove the brickwork as it wasn't safe for travel, but we'll put new stone on.)

Again you could contact the electric company and try to find out average usage for a building the size of what you're looking at, and then I'd multiple that by at least 130% to be safe until you understand your tenants better. 

Making sure your property cash flows properly will keep you safe from shifts in the market. 

I understand you have faith and confidence in your partners, but, why not be safe and secure some sort of collateral?

Fraud consists of some deceitful practice or willful device, resorted to with intent to deprive another of his rightin some manner to do him an injury.

Better safe than sorry.I can tell you this.