In other words if your partner invested $100K and the sales proceeds of the property is $200K its not $100/$50k/$50k at closing..

The agent we used then proceeded to swindle our funds as they dripped in by using words like "courtesy" and then charged us a premium for that "courtesy".

I would look to JV with other people if you want to own more equity and control.You can also sell an asset or two, and role the proceeds into a bigger asset.You can look at seller financing deals. 

I would also have to put down all of my proceeds from my first flip to fund the next one.

While there was a verbal understanding that I intended to proceed with the Lease Only Option, no formal agreement was in place.

Not sure how to proceed on that strategy yet though. 

Home is also kind of mess ..with weed smoking in the house and dog poo in backyard not cleaning up after and so forth.How to proceed here ?

One of them messaged me back and said they decided to pay for a program (who heavily advertises on social media) that costs $15,000 to do flipping in the Midwest with a net proceeds of $10,000 to $30,000 (more if it works out well). $10k  before capital gains tax sounds like a huge headache - HYSA or some index funds would get that with far less stress I warned them about buying cheap properties and trying to do a renovation from 2000 miles away with no experience.

Its tough to give more advice without actual numbers to see the sale proceeds versus the down payments.Nothing wrong with a 50/50 split other than when it comes time to take out your share in cash other than split rents. 

Freddie Mac SBL (Top Markets)Loan Purpose: Permanent Financing (Refi & Acquisition)Loan Proceeds: $1,000,000 - $7,500,000Loan Sizing: 80% LTV; 1.20x DCRAmortization: 30 YearsLoan Term: 5 / 7 / 10 Years (Fixed); 10 / 20 Years (Hybrid ARM)Partial Term IO: Available @ 80% LTV; 1.20x DCRFull Term IO: Available @ 65% LTV; 1.35x DCRRate Types: Fixed & Hybrid ARMRate Lock: At Loan ApplicationNon-Recourse: Non-Recourse w/ "Bad Boy" CarveoutsPrepayment: Greater of YM / 1.00%Rate Buydowns: Up to 2.00% Assumable: Yes - Assumable LoanCash Out: Yes - Cash Out AvailableFANNIE MAE SMALL LOANSLoan Purpose: Permanent Financing (Refi & Acquisition)Loan Proceeds: $1,000,000 - $9,000,000Loan Sizing: 80% LTV; 1.25x DCRAmortization: 30 YearsLoan Term: 5 / 7 / 10 / 12 / 15 / 30 YearsPartial Term IO: Available @ 80% LTV; 1.25x DCRFull Term IO: Available @ 65% LTV; 1.35x DCRRate Types: Fixed Rate Lock: At Loan CommitmentNon-Recourse: Non-Recourse w/ "Bad Boy" CarveoutsPrepayment: YM; 3 Mos. @ 1.0%; 3 Mos. @ ParRate Buydowns: Up to 2.00% Assumable: Yes - Assumable LoanCash Out: Yes - Cash Out Available