Pre-foreclosure Deal of a lifetime?

[Cheyne R Sexsmith]

Hey everyone!

I'm writing you  as I ran across a potential massive deal. I found a house in pre-foreclosure with a TON of equity in it that entered default as of August 2018. I feel like this is too good to be true. I'm new to investing and stumbled upon this deal. I'm looking for any words of advice or caution anyone can lend. 

LTV is around 30-40% depending on what I can buy it for. I'm also aware this will need to be a "cash" deal. I don't have enough cash on hand, so I will link up with another investor to close this.

I have the bank information and intend to reach out to them to see what information I can dig up. I also found the homeowner on Facebook although I have not reached out. I am aware of the application of the Dodd Frank Act Section 1442 here as well.

I think I am on to something here but don't know where to turn in this situation. Thanks in advance!