1st deal - Possible pre foreclosure approach

[Matt Thompson]

1st deal oppurtunity, have an acquaintance that is losing their home and owes roughly 90k, with actual value of roughly 130k. As of 11/24/2017 I do not know what the status of their current loan is or how behind it is, but looking for what options I would have as far as approach to buy the property pre foreclosure as they still actively live there and the property has been recently updated and in great shape as a turn key investment. Any input is greatly appreciated! Quick rundown on me, my wife is a licensed agent and me and my business partner plan on buying our first deal as soon as we find one. I plan to start an llc with me and partner and have him (partner) hold the loan on the 1st deal we buy and I bring the 20% down payment. If any of that info helps. Matt Thompson