with rental properties on site - a sort of house hacking, except (depending on the safety of the area) I might live elsewhere and only work in the space.

Most investors when I talk to them say that safety of their investment is the most important factor, would you agree? 

We're looking for 100% ROE on each deal when we purchase, or as Warren Buffett said "buy with a margin of safety." 

If they are new and inexperienced this capital provider is not only taking on the most risky position of the capital stack, but they also are setting the whole project up for failure due to their lack of being able to provide those additional safety measures.In closing, I would encourage you to err on the side of patience and reach out to local, successful RE Investors, to ask if they would JV with you. 

I greatly appreciate your service and admire your commitment to ensuring our safety and way of life. 

Have a safety net, a little cushion in the event of a vacancy period or large expense.

@Hud Floyd I've been in Public Safety since 1997 when I first got my EMT license--Most of my carreer was in EMS, but I've also been a Firefighter and Public Safety Officer.

By far, your number one risk is getting sued for all that you own, due to gross neglience on your part in protecting the health and safety of your guests. 

The architectural, building, and fire safety plans would likely have to be submitted, reviewed, and approved by the municipality (a process that can take several months) before a GC can start any work.

If its a major health and or safety item with potential liability you may want to stick with a professional from start to finish.