Hey there, got a really positive working with professional artists so i got some tips that can help.
1-Choosing an artist:
Personally i prefer to work with people i know, because that way i am more certain about their skills and work ethics, but if you plan to work with an artist you don't know, make sure to check their portfolio and to see their work ethics.
2-Compensation:
If you want a committed and skilled artists you must be willing to pay them and ideally to avoid any delay in payment.
Personally i recommend paying in cash. Going with percentages in revenue is way harder because you would need them to prove the potential of your project and because many can't afford the longterm wait for compensation.
Build a budget to pay your artist. I have some savings that are exclusive to pay the people i'm hiring, sometimes you can avoid some unnecessary expenses to save cash for an artist's service.
This may sound obvious, but it's always good to mention it just in case, "exposure" or any equivalent is not a real currency.
3-Working with the artist:
Make sure you have a clear idea about your project's story and key concept before hiring someone. You wouldn't buy a carriage if you don't have a horse after all.
On fewer words, make sure you know what you want so you don't waste their time and yours. Also, make sure you explain what you want well.
When you are paying you have the last word, but be willing to listen if they come up with a suggestion/idea about art. Some may come up with ideas that enrich the story like a touch that enhances a character design or a better way for panelling.
4-Final notes: Communication is key when working with others in any field, be honest, be clear and be polite. The level of formality when speaking or texting may vary depending on who are you working with and how close you two are.
Hope this helps!