As an investor that manages projects out-of-state, I would say the best way to protect yourself is to keep as much money in your wallet as you can (until the rehab is complete) and word the contract so you can break it if certain milestones are met.

The contract will discuss payment terms in addition to 'scope of work' (be as detailed as possible - you CAN insert their bid sheet if it is detailed enough, or you can add a page with more details) and timeline for completion of 'milestones' which can be used for disbursement of funds. 

Here is a rough model of what we do with clients on larger jobs (10k+):1) 10% down payment2) Job start payment3) Payments based on large material purchases or milestones (rough green tag, wall cover, cabinets, countertops, backsplash, etc.)3) Final payment of 10-15%It's important for you as the client to keep that 10-15% until final walk through.

I expect to understand the area I want to buy in, the type of property that produces a decent roi, and have the network necessary to foster growth and success.I plan to accomplish this major milestone by taking advantage of my 0% down VA home loan to purchase a four-plex and househack it.

I don’t expect this to be a quick process at all, but we’re operating as if it will take a us a few months to gain some traction and within that time we should have hit another savings milestone and have more money to put into the business.

Thanks for the feedback, I'll most definitely reach out once my team and I solidify milestones and an appropriate time line...which is fast approaching. 

Getting to the point of self employment must be a huge milestone in you and your husbands life! 

I hear most of the syndication guru’s saying the normal GP/LP split is 30/70 (maybe that skews more towards the GP after certain milestones are hit), but I’ve seen a few of your post where you mention YOU’RE the 70.

It's up to the GC to manage his own subs, employees, materials, logistics, insurance, etc. and then you will pay the GC once the project is complete or when certain milestones are reached as agreed upon up front (pay requests for completion of certain items).

KY Life can help you with that but also Mark Callahan at Milestone Reality is an investor-friendly commercial agent that can probably help you out as well.