I'm thinking that after selling I'd keep 50% of the profits for "sweat equity", and give the other 2 silent investors 25% each.

Acceptable sources of down payment include:Borrower's own funds: cash, savings, checking, retirement accounts, etc.Gifts from relative (blood or marriage), employer or labor union, charitable organizationSale from previous home, trade equity, rent equity, sweat equityGovernment grants and loansThe following are NOT acceptable sources: seller, real estate agent or broker, builder, associated entity, lender.

Beyond this, there is definitely some work that needs to be done to the property, nothing major (yet), just some good sweat and labor to fix some water leaks, make the place look better, replace boilers, etc. 

I am trying to get other Ideas also on how to purchase a property with $0 cash down ( yes I am willing to do a lot of sweat equity and other tasks)

Turnkey is another word for "all the sweat equity is gone".

That being said, I am still able to find good deals in the good areas, they just take some sweat equity after they are acquired. 

Purchase price is $15,000 and we plan on putting in $65,000 to $75,000 in renovation material and lots of sweat equity.  

No sweat!  

If you have low or no capitol to fund purchases and projects, you will have to build capitol and replace it with sweat equity or finding and putting deals under contract.If you have capitol for projects and no access to deals or know how to spend your time locating deals or wholesalers who have them and KNOW YOUR NUMBERS. 

(tools knowledge of outlets/discount materials & sweat equity)WHAT DO YOU RECOMMEND WE DO FOR OUR FIRST DEAL?