Quote from @Rene Hosman:
Great answer @Jackson Harris ! I know people handle the hiring and pay structure of their contractors differently. Like choosing to pay for your own materials, or paying when certain milestones are hit. Do you have any suggestions on how you've found to be the best way to structure pay so that your interests are aligned with the contractor?
Yeah good point, usually in installments when milestones are hit. Like ok the bathrooms are done, pay them a certain amount. Or you can do it the other way where you give them the money piece by piece for them to use for materials, then you pay for labor after it's completed.
Once you do have a good, consistent contractor you work well with you can also try to have them buy into the deal so they get a percentage of the profits and they put money in the deal. Or they're incentivized to get the project done by a certain date and they will get x in return - keep in mind that can be a slippery slope if they rush to get things done and cut corners.