Dual Ownership of a duplex

[Tyson Mollotte]

I am working on a deal with a partner to build a duplex where the equity is split 50/50, basically he gets one unit and I get one unit. lets just say for simplicity that we can built it for $100,000 and have no note on it. If after a years time it appraises for $200,000, is it possible for me to take out a loan on my half of the equity? For example, my $50,000 after one year grows to $100,000 with no loans. Could I then take out a loan at 80/20 and get $80,000 to invest in something else? or would we have to take out a loan together and then split the equity in half that way? My partner would rather collect his rents and not have to deal with a note, but I am a lot younger and still want to leverage to grow my wealth quicker. I would appreciate any feedback! Thanks.