She would be putting all the cash down for the property and I'm a contractor and would take care of all of the rehab work along with finding the house, dealing with real estate agent etc. how can we make it so that it would be 50-50 ownership of the property and all future profit? 

Now the situation has occurred that we need to rent the house out in order to help pay for his long term care expenses. 

Are there other more creative ways to start cash flowing in year one Be careful because federal mortgage fraud and going to jail is a real thing.

Be careful.

If they are not willing to fund, I would crunch the numbers very carefully on your end before pursuing other options.

If the numbers make sense, which usually equates to 10% or better cash on cash and roughly 1% rent to price ratio in an area that has appreciated well recently, I don't care how far I'm away from that market, I try to buy there.

Be sure to pay attention to anticipated ARV and max LTV on the refinance, as well as seasoning requirements - this is where I usually see people run into problems.

So whenever the buyer wants to refinance or sell the property my lien comes up aswell and that's when I'm taken care of? 

Is this pocket a value oriented area (most sq ft per dollar of rent) or will they care more about proximity to highways, retail, walkability?  

That would take the pressure off Tenant A and let Tenant B know you care.