First off, I would lose the term "elderly" and refer to it as seniors, senior living, etc. 

If the owner was responsible for the booking, and you are simply taking care of people as they are there (you mentioned that it is a BnB), AND your contract does not state any terms for canceling they probably can do whatever they want. 

Other options include regular loans with a 20% down payment or getting a long-term roommate.

With long term rental, we coulnt cover mortgage at all, with short term rental, there was possibility to cover mortgage ans sometimes it did. 

My focus as an investor is buy & hold real estate with long term and short term rentals.In 2022, I am looking to network and surround myself with others in the industry to ultimately help each other expand our real estate businesses. 

I’d love to hear who you’ve used in similar situations, or what sort of rates and terms could be expected.

Depending on the property type and terms this can be justifiable but usually reserved for those with ample experience and higher risk tolerance. - Higher and Hard Deposits.

I thought it was their job to look everywhere to find the best rate and terms.

This helps eliminate the argument from tenants that they are due a deposit back, it is based on their performance of the terms of the lease.

Is this possible for a cash out refinance or rate term on 2 investment properties on the same loan that need to be refinanced and separated, or is this a unicorn by a rainbow sitting next to a pot of gold?