Bottom line quote that we pay out in specified milestones (which align with our hard money lenders payouts). - besides or JV partner watching progress, on completion we hold back a portion of the payout pending a final residential inspection. 

With that milestone approaching, I've been spending more and more time gathering as much REI information as I can get my hands on - which is ultimately how I stumbled upon the BP site.

The contractor should get paid based on a draw schedule, based on key milestones of completion. 

The money of course people like but the achievements and milestones i see clients get more satisfaction out of.  

If you throw enough mud, some will stick and if you look at enough of these properties, you will eventually develop an eye for it.Alternatively, you can hire an inspector to assess each milestone on your SoW.

If you do not have a true vision of a goal that is fulfilling then reaching it or milestones of it will not have the satisfaction you hoped for.   

If I don't reach a certain milestone goal--so what?

We have milestones, that when they are met and I am satisfied with the work, they get partial payment.  

In order to mitigate most of the issues of working with contractors you need to have a very explicit scope of work, and a solid contract that specifies that payments are made according to certain milestones, and penalties for delays or rework.

Without having Milestones, Measurable Milestones, how will you know when you are successful?