You then sell them as quickly as possible, whether that be through CFD type arrangement, or the buyer brings financing (not as common).

@Christopher StahlI actively I'm working this area but unfortunately I'm in the same boat as you trying to find anyone that can give me a lead or anything that resembles a real deal.

I'm sure he's made arrangements with the listing agents to get permission. 

The arrangement we had with the current tenant was a 2 year lease, the tenant provided a resident assistant to take care of minor issues around the property (at their expense), and the tenant essentially was the property manager.

You can set up the arrangements any way you want.  

Even with Covid, we have had a much higher payment rate than many I've read of, although there has been slippage of dates and a couple I've had to work with, arranging for rental assistance.The issue of carrying can be a complex one - you have to be in fear of your life or defending another at the same risk, or you can be in legal jeopardy.

What would a typical arrangement of the lease option be in a situation like this?

Does anyone have any advice for how we should work a deal / arrange a contract if I am investing for example 100K and my partner is investing 50K?

Some folks are going for DST arrangements.

You can find a way to live free or cheap through a house-hack or AirBnB arrangement in most markets.