Partnership: Using a lien to secure your down payment equity?

[Account Closed]

I am considering providing the 25% downpayment for a deal that I will own 50-50 with a partner. 

Lets say that purchase cost is $100k. I will provide $25k and the bank will finance $75k. 

Can I record the title so that the property is owned 50-50 between me and my partner (tenancy in common), but I will also record a second position lien of $25k secured against the building? (so that I can get my down payment back before 50-50 profit splits happen).

Or are there smarter/simpler ways to do this?

[Eamonn McElroy]

@Account Closed

Perhaps an LLC taxed as a partnership with a waterfall allocation and distribution schedule.

What exactly is your partner bringing to the table if you're providing 100% of the initial capitalization and arranging financing?