Need Advice - In a tough predicament

[Rich Welling]

I own a business in a small strip mall with 5 other storefronts. My landlord has been having some serious financial issues, and had stopped paying the mortgage and taxes last year. The bank holding the mortgage exercised its rights to the rents, and all of the tenants have been paying the rent to the bank.

A tax lien certificate was sold on the property a few months ago as well.

The issue is, no one is maintaining the property, and there is no accountability. The owner isn't returning phone calls, and the bank is claiming its not responsible. We have since retained counsel and have been withholding rent in an attempt to get some relief, and the bank is non-responsive as well.

I would ultimately like to purchase the property, but the amount owed is far greater than the current value. My question is, is there any way I can position myself to be able to buy this property when foreclosure ultimately occurs?

Any advice on this topic will be greatly appreciated