My first thought might be is walk away.
This guy is not serious about doing Quality work. He is probably looking for the "cheapest" person out there for everything.
Imagine working behind the cheapest framers for a second. First, there is no foreman around to ask questions, the work force doesn't speak english, or, are out on work release, or just don't show up. Plumbers are always late, and it might not be the first one you talked to in the beginning. The first plumber ran away already.
And so on and so on.
Check him out first with local inspectors, BBB in the area and such. He may come back to you, and try to entise you and change the terms to match whatever yours terms are.
Just because you have terms, doesn't mean you are going to get paid.
Check him out before you do anything....