I would seriously consider finding a Saunders multi print MP 810 easel. Originally these were several hundred dollars. You use different masks. 8 wallets, 4 4x5, 2 5x7s will print on 1 8x10 sheet. These were popular with portrait and wedding photographers. 4x5 can be difficult with 35mm. It's possible to make your own masks to get 3 1/2 × 5 inch prints which was the standard before 4x6 became popular. It does have borders. I like borders. Saunders made several multi print easels one using 16 x 20 paper, everything the same as the mp 810 only 4 times, i.e. 16 4x5s, 8 5x7s etc. These easels made processing a lot easier as most of these folks had roller processors. Usually on the economy jobs ,the customer would cut out the wallets etc. I've had good luck with Fuji's cut sheets, I would still be using Kodak if I could get sheets .
If you are going to cut paper, I would get a roller and a Thomas safelight with the DUC filters, after about 10 minutes in the dark you can see reasonably well and I've never fogged paper, keep a good distance 5 to 6 feet.