First offer submitted!

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Just placed my first offer for a fix and flip!  Excited and scared out of my mind at the same time.... ahhhhh.  Now its a waiting game.  I'm assuming that I should use the time between ratification (fingers crossed) and settlement to line up contractors (have 1 that walked the property with me, but would like to get a couple more).  Any other tips/advice that anyone has that should be done during the time of ratification and closing?

SFH - offered 75k (listed 70k they already had a full price offer)

Reno budget - 40-50k (thats on the high end)

Comps - 185-210k

HML terms - 25% Down, 4 points, 12% - not too happy with the points, but its my first one, can't be took picky.

Down Payment/closing cost/points, etc - 40k

Potential profit - 55k