GC contract/draws/fairness questions

[Steven Mitchell]

Hello,

A little background.  This past year we have run the gamut of GC's.  A fellow rehabber was taken for 23k.  The GC just took the money and never showed up.  I had a few bad experiences culminating with this last one - we hired who we were told was the best GC in town.  The 80 day rehab has now ballooned to 8 months due to him spreading himself too thin and using me as his unwilling free hard money lender.  Now we are suing.  Anyways.  Its been less than ideal.  

We are now starting a new project.  We are now that girlfriend whos been beaten by some dude for months, and now our next relationship gets to deal with our baggage.  LOL.

Ive been told by a rehabber in town that its not realistic to have the GC sign anything that commits them to penalties if they run over, so thats off the table....right?

How do you guys structure your contracts?  I dont see myself giving anyone 50% up front anymore.  Is it realistic to think we can find a GC who works more hand to mouth?  Who can afford materials and labor without us prepaying?  We want to be fair, but we dont want to find ourselves in the position of them having all of our money again, and us not having any recourse.