I would do some research on the web as various banks have different ways of sharing available properties.

He is willing to pay the 20% down payment most banks would require, but I doubt a bank is going to want to touch this offer. 

I would pay 40k for a house that will rent for 950-1050 with minor repairs and I would have the bank finance 80% of it and get the seller to pay closing costs.

I was lucky, the bank had taken out several dumpsters of trash and the carpets.  

@Nicholas Reece You could take the investment to the commercial side of the bank.  

However, if you are incorrect and you have a negative cash flow property you bought because you thought you would make it back in equity and the market turns down you will eventually fail6) Over-leverage - If you buy too many properties and something happens (market downturn, property problems) the bank will foreclose on you.  

(I'm not familiar with the US sites on closed sales in a specific area and stuff....)What about negotiation with the banks about fees that can be waived - Do they do their best to decrease my investment?

Does anyone have a recommendation for a local hard money lender or bank that is willing to work with a new investor?

Of course banks were closed but they could have paid Saturday or any number of other days the bank was open.So I email them and ask that if they have paid to disregard my email but if they have not, since rent was now late (I only accept rent deposited in a business checking account) to include the $25 late fee ($15 general late fee + $10 per day late). 

The home was a bank owned foreclosure.