First House Hack Rehab!! How should I pay my contractor?

[Justine Veal]

Hey everyone, my Fiancé and I are finally purchasing our first home and we are house hacking it! Whoo Hoo! We are so excited to embark on this journey. However we're not sure what kind of payment schedule or agreement to set up with our contractor once everything closes and we can start renovating. We're designing a detailed plan of what work we want done as well as our budget. Once we match with a contractor that we like. How should we pay them in order to both keep them motivated but to also keep the budget and timeline on track? Should we ask them? What are some of y'all strategies for working with contractors? I would like to build a relationship where we both win. Thanks in advance for your help.