In fact, I suspect they are responsible for a good portion of the rent/value increases we've seen over the past decade, since nothing really hits the public market. 

I would be required to submit a plot/site plan as well as have a public hearing.

You need to assume summer vacancy with no income.You need to have latest fire protection system and carry ample liability insurance. 

What are something think I should do to protect myself/ any advise on the whole deal is appreciated!

The investigation may uncover other problems and even cause them to lose their license which would protect other investors.4.

While more expensive, this would allow us to protect ourselves. 

@Patrick Smith For asset protection reasons, I put the property in an LLC when I purchased it.

We specialize in protecting real estate assets once you've acquired them, but we also deal with all those things you mentioned it looks like you need, so feel free to connect with me if you'd like to know more.

It is a build to suit and the tenant is a publicly traded company in the oil and gas space.

You may also want title insurance to protect you from claims and faults prior to your parents purchase.