Renovation in Charlotte lagging behind

[Igor Stankevich]

Hi everyone, i need some help here to understand how to proceed.

We are doing a major house renovation, for the purpose of renting out. Location is Charlotte, NC. We hired a GC, who is managing all the work.

We started the work October 1, and supposed to finish it Jan 15. Today is Jan 13, and work is partially done, but most of the stages are not fully complete

Stages are:

1. deposit

2. framing complete

3. mechanical roughs complete

4. insulation and drywall

5. trim and paint

6. cabinets and countertops

7. mechanical trims

8. project done

Money are evenly spread among them. We are on the stage 3 now, and there are certain things need to be fixed even for the framing stage, for example:
1. Framing has several spots where it has to be redone: one wall has to be thinner, windows have to be moved and expanded, etc

2. Electric work is conditionally complete and inspected, but there are certain spots when it is done not according to the plan in our contract, so it has to be fixed as well.

3. Plumbing work is also partially complete and inspection has not yet been scheduled: GC expects this to be complete at the next stage, when mason will do his work.

4. HVAC units are not yet installed, ductwork is not done

Current stage which GC wants to draw money for is "mechanical roughs complete". He says that he spent a lot of money already and need to make a draw. That draw would mark 50% of our budget for the contracted amount, but i am not sure if we need to send it out or somehow resolve all the issues first. Am i supposed to "finance" the contractor, if he did not predict the stages correctly? How such situations are usually handled?