Quote from @Scott MacComb: I am doing my first true house flip (have remodeled plenty of houses for rental) and am trying to figure out a contract to use with a new general contractor whom I have not worked with previously. 

Do you have any equity in you existing home (if you own it) so you can leverage a HELOC to use as an emergency fund?

I was able to get a private loan which I used to purchase the house then I used my own money to rehab the house.

However, these units are new and there is not a significant oversupply of any kind of housing in the area currently.

I live in Tacoma, WA…a lot of folks don’t want to deal with having to learn the local housing laws.

We are buying two houses right next to each other.

I would put it in your listing details and also potentially house rules. 

As a community I think we should focus on helping people who have had their housing situation negatively impacted recover as quickly as possible.

These cash outs got me 14 houses with no out of pocket $.

Letting your contractors (specifically if you have a GC) what the budget is and that the must notify you if a change order exists (versus they tell you after the work is completed).