Equity Loan For Trailer Park

[Keith Hand]

I am purchasing a trailer park for $365k and I have a partner who is putting up all of the cash for the down payment on the bank loan. He will have a loan to the company and we will pay his capital investment back over two years with no interest using cash flow from the property. I would like to pay his investment back ASAP and keep as much cash flow as possible during the initial phase of cleaning and fixing up the park. The only idea I have is to try to get an equity loan (or line of credit) for the down payment amount and pay that loan over time with a much lower payment. The park appraised for $452, so we will have some equity immediately, and I wouldn't mind paying some interest to lower the payments. I have no experience with this so I don't know if that's an option. Can anyone give any thoughts on that or have any better ideas?