Need suggestions for approaching Off-Market Opportunities

[Dan N.]

Hi All, 

I have a handful of SFRs but I've never bought anything that wasn't on the MLS.

I've gotten wind of two properties in my area that are likely going to be available soon. One is a friend renting a house whose landlord has said he wants to sell so they have to move (they're on month-to-month). She says the house has foundation issues (not uncommon in our area). The house was purchased about 8 years ago. 

The second is two doors down from her and is "going into foreclosure" Apparently the owner is underwater 30K. Although he's owned it 18 years, apparently he has refinanced and spent all the equity. Not sure if I should approach the bank that would foreclose

I have requested comps from my realtor, but I'm curious how others would approach each owner to negotiate a deal on one or both of these. 

Thanks in advance.