I guess the reason the're approaching me is because we became acquainted as they had solicited me to invest in another business venture.  

It's invite only but it's specifically for rehabbers who need a joint venture partner to fund their deals. 

I am not sure if 50/50 on the llc is best, however, on a corp, 51% matters on everything, one should be a controlling share, the beauty of llc is, no matter how you split the shares, you still have control over the profit.

I have limited cash at this point so I am looking to partner with an experienced rehabber to learn from so that I can learn, make a small percentage of the profit, you make a majority of the profit and the wholesaler can make some money and get rid of the property.I have a relationship with a seasoned broker/wholesaler that I am learning from but it requires that I put all the money up front and I am just not to that point yet.Message me if interested and let me know if you have done this before and I would like to see how your Joint Venture agreement might look like.  

.#2 credit card advances and credit lines later helped me control houses.

Since you have flip experience and did quite well with it, maybe you can joint venture with someone that has the capital and not the experience and do that until you have enough saved capital to do some on your own. 

Family business - call to day,"Until you get up to speed with creative methods of controlling real estate, I would suggest you work with an investor (coach), someone who has a portfolio of residential and commercial properties.

The plan that I have worked out for financing, etc requires me to leave my current position and start this RE venture full time, so there is some hesitation, but I think with my heavily researched plan of attack, I am becoming more comfortable and excited about the idea. 

One way would be to give them a small down payment then they become joint venture partners with you.

Flats are very easy to buy and you can take control on its fund, in conclusion the return is also very good.