First Flip, Contractor selected, but what should I be aware of?

[Jodee W.]

I have my first flip house in escrow. Repairs should be minimal.....this is paint, flooring, fix a window, and repair a hole in the wall. Make it pretty. I have a licensed and bonded contractor who has done some work on my personal residence. I like the work I have seen. I like the work ethic I have seen. He is young and just starting out though. What would I expect to see in contract? What is usual? What should I watch out for? I am so new that I don't even know what questions to ask!