If you are not running the motor hard, then some simple holes on the side of the fuselage will probably be fine.
When you get it powered up, carefully run the motor for a few seconds at full throttle with the prop on. Turn it off, and check the motor temps. It should be cool. Repeat, but for a little longer. Still cool? Your motor should never be so hot that you can not touch it. If it does, then you have too much load on the motor, a different prop that reduces this load will need to be installed.
Typically the motor manufacturers will suggest a safe prop/battery combo. Some brands do not suggest anything and you have to run some calculations. If you need help with this talk with Jarron here, he can be a great help in selecting the right combo.
Anyhow, this is the general rule for any new model. Check the motor temps before the first flight.
p.s. Motors of this style may not transmit heat really well to the outer can of the motor. So please keep that in mind, the inner motor may be much warmer than the outer part.
If you run a motor too hot, 2 things typically happen. You might burn up the wires in the motor and kill it. Or you will overheat the magnets and they will become weaker, and then the motor will also be much weaker.