Streamlining rehabbing/flipping in SF Bay Area

[Gagandeep Singh]

Hi everyone, I live in SF Bay Area and have flipped few homes in east bay during last couple of years. Would like to share some of the challenges I faced, and like to see what other experienced folks have to say about them:- 1. Bidding on labor/material & contract: when I close on a deal, I have few contractors bid on labor and material. Labor costs is almost constant, and material is variable to some extent. I am wondering how to write a formal contract and define scope of work. 2. How to keep track of material: I have my contractors buy material and produce receipts. How do I keep track of all the material and ensure that contractor is not returning (and keeping in his pocket) and double ending me. (Ps: I can't sit at the property all day long) 3. How to make sure the work done meets all the standards, and when inspection (home, termite, roof, etc) pass with flying colors? And how to make sure contractor doesn't run away in middle of project, or before inspections are done. PS: So far I did rehabs without taking permits from city (mostly inside the house remodeling only)