A Fair Price to Pay Contractors - Per Rehab

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Hello,

First post on BP.  

I'm in the earlier stages of writing a BP to acquire and lease rental homes.  I'd like to outsource the rehabs to contractors and consider their wage in terms of the "total investment" of the subject property.  

I was thinking a good way to determine their wage would be to consider it a percentage of the bid or SOW.  

For example, if the contractor bid a house at 10k, suppose I cut a deal with that contractor so that they get paid 10% of the bid.  In this case, 1k.

Of course, I'd have to stay on that contractor to make sure they're not overbidding as a mean to increasing their commission.  

What would you suggest as a fair percentage of the bid as a payment (10%, 15%, 20%)?  Or is there perhaps a better way of doing this.

Thanks,

-wormbite