Mortgage Advice

[needadvice]

I bought my house 5 years ago for �80,000 and am now selling for �180,000. I have got a mortgage for �80,000 to get somewhere else to live for now while the sale goes through. I want to invest the remaining money in property. Should I split the money into 2 deposits and get 2 mortgages in mine and my partners name then rent or sell? Or Buy a small flat to rent and get a full mortgage on a house to modernise and sell on. We want to make money quick without risking the lump sum. We do not understand fully the options open to us regarding mortgages. Has anyone got any advise or experiences they can share on this.
Many Thanks in advance!