Are you only doing private money are you doing asset based/traditional as well? 

What financial institution should I talk to?

Sober living is one of the hardest management assets out there.

This is a huge plus because it offers liability protection, meaning your personal assets are shielded if there are any legal issues with tenants or the property.Doesn’t Appear on Your Personal Credit: One of the big perks is that these loans don’t get reported on your personal credit profile, so they won’t impact your credit score or debt visibility.

We plan to hold this asset for 3-5 years.

If you're both 50/50 in each asset, why not create a partnership now, and contribute both assets to the partnership; where you will be 50/50 owners.

2) Also, is it allowed for proceeds of both sales to be used as down payment towards 1 single asset?

Valuation of the asset condition is even more important than calculating returns because your calculation of returns comes after asset condition valuation. 

Generic online contracts or other one-size-fits-all documents can contain illegal provisions under state law that may cause legal and financial woeWisconsin Lease Laws In accordance with Section 704.44 of the Wisconsin Statutes, a residential lease can be considered void and unenforceable if it includes any of the ten invalid provisions outlined in the statute.

I had to figure that out myself as well a couple of years ago haha as already mentioned, first things first, make sure you feel financially stable and secure.