This is a bit like changing your CV to fit the job in question.
Do you really need VC funding? How much time have you wasted trying to raise this type of funding?
VC’s are very specific in what they look for, all have their own rules and later stage VC’s (from Series A) will try to de-risk the investment as much as possible.
Healthy competition
I would suggest speaking with other investors to bring additional competition into the deal.
It would seem this investor is trying to de-risk the deal as much as possible but also possibly trying to see how you are performing to requests.
This could go on with no conclusion, plus you are modelling your business to one investors requirement.
Perhaps they think other elements of the business are lacking than based around specifics.
Time frames
Time frames can be flexible. If we see a deal we like we have been known to conclude an investment decision in a matter of a few days but we see a lot of startups that have too many elements missing to make a decisive judgement.
Personally I don’t think it fair to continually ask for further business objectives to be met, it should be clear that if a few of the objectives are met then that would suffice to secure investment.
If you’re speaking with a seed stage investor or later stage investor, this could explain the problem. Maybe you should raise money from angels to refine your business model so that it is more appealing to VC’s.