I agree that a 25% cut sounds outrageous! 

If you have to wait on draws or cuts from others, it can be a serious drag on progress.

For contracts, here is what I would do if I were you.I get it that you want to cut cost.. but cut cost where it is OK to do so.

You are just buying blind otherwise.Then I would go over each cost item and ask myself why it is that much and if I can cut  the amount..I would even go as far as interview renters and find out what their thoughts are about the location and the property.

You may also have the ability to add other money makers like laundry or cut expenses.If you think my numbers are off, and frankly they very well may be, download my spreadsheet and enter your numbers in.

I would try to find a flipper or investor at your local meetup that has experience and just give them a cut of the profits for the sale after you pay them back. 

Lawn care typically $30-$50 a cut and snow removal I like to see if one of the tenants can handle that during the winter for a little bit off their rent.

How does one go about setting up a lien, and does the investor give us the money directly or does he cut a check to the bank for the Property?

I'm a big fan of seller financing because it cuts out the big banks and there's a story behind every note.Happy to answer other questions you might have.

I personally don’t have any seniors as tenants myself but wouldn’t mind taking a 50-75 dollar cut on the rent to have a piece of mind.