LTV = No money down?

[Daniel H Truex]

I have a two quick questions that I am hoping someone on here can help me understand.

I have a possible deal where the (commercial) building will appraise for well over what they are willing to sell it for (30% +/-).   Assuming this is true.... 

1. Is it possible to structure the deal so that I put no money down because the LTV already has a difference of 20%? In theory the banks want that twenty percent down so that they are insulated in the case of a foreclosure.

2. Assuming that it is possible to put no money down... and because the LTV ratio is so far apart, would it be possible to pull money out of the property to create an emergency fund?

The people selling the building are friends and (maybe) willing to be pretty flexible as long as they get the money they want. What I was thinking is some kind of deal where we pay more but then they give us that extra in cash at closing (some sort of contract drawn up prior). 

My main goal (and I have no idea how realistic it is) is to create an emergency fund. This would be my first commercial property and while it has some tenants already I know these can be a bit more difficult to lease out than a 2 bed 1 bath. 

Any thoughts/suggestions/advice would be appreciated. Thanks!