I was taught through the CDTA Acro system, so this is how I start. Either way, prep to get into a split handstand. This way though, all you have to do is push off your bottom leg and you're splitting!
You should get here. Hips are above shoulders which are above hands. This greatly improves balance, so you can hold your split with practice.
From split, lower your first leg down. It should be the one originally in the air at the beginning. Then you stand up on one foot, (how-to soon on that) or put your foot down and stand up on 2 feet.
And here's it all combined :) sorry about the ending, I ran into my wall... Hope you enjoyed, and good luck!