Finding a contractor off craigslist for full renovations

[Chris Purcell]

I'll probably get smoked for this topic .. But have some questions

I'm looking to buy cheap, fix up then rent, refinance out and keep buying

So I'm looking to team up with a contractor and don't have really any contacts 

I went to craigslist, posted an ad on what I'm trying to do

One guy responds, goes and takes a look. Doesn't have any internet presence but tells me he has around 12 guys under him, been doing this for 13 years and sent some decent pictures 

His price was great ... Would I be insane to take a chance like this?

I would be very cautious on the first experience, buying materials myself, not giving money upfront, only paying in increments when work is done