What are the pros/cons about this approach?

and if so, how to approach it?

My second question is, 2) would it be possible for me to try to approach the bank before foreclosure if he is not giving me access to the bank (I do know which bank he is working with)?

Personally I think if you are going directly to sellers the more personal, and less corporate approach I think is best.

I originally planned on doing an introduction once I got my first RE deal but that prideful and stubborn approach would most likely hinder my progress as I venture down the path of real estate.I am a 24 year old (25 in April) student at San Diego State University majoring in Psychology.

It will help on the sell side if approached by an investor. 

Also like your deal, four years after we purchased it, we were approached by a representative of a developer (for Walgreens) who eventually purchased our property for a profit a little more than your deal.I haven't been able to start buying lots (in future prime locations) yet for my personal investment, but I hope to pick up a couple this year. 

Hi BP'ers - Do any veterans have advice for a fellow BP'er who is approaching/working with private investors for the first time?  

I wonder as a seller, when some one approaches with a reverse 1031 offer, is that considered "not ideal".

@Udele Tagoe **Disclosure** I have never done this before, it is simply how I would go about approaching the situation.If you have a title search done that will give you an idea of who exactly filed the lean and when it was filed.