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This can be a strategy to leverage your existing property for further investment.While your current debt-to-income ratio may not be ideal, working with a knowledgeable mortgage broker can help you explore loan options that consider your entire financial picture.

@Chris Seveney, will that act to halt the foreclosure, or will the winning bidder end up with a property they can't possess?

First, there are so many different strategies (each with their own different risk/reward) that there is no one single answer.

A good strategy here is to refinance and pull cash out so that you can use it for your next acquisition.  

As a real estate agent specializing in off-market properties and currently tasked with sourcing apartments for a prospective buyer, I'm seeking guidance on effective outreach strategies.

Deliver quality and expect quality with your ARV/purchase price.5) Know what your #1 outcome is and have an exit strategy no matter what.6) Don't give up.

The "partner" bank to this strategy is Relay and they make it very easy to open and name accounts.I would second what was said above. 

I have contested multiple properties I own and almost always get a reduction in property tax.It is very easy to do.Sometimes I use the property itself to argue value.Sometimes I used what comparable properties are paying to win my argument. 

If you want advice on real estate investing and the tax and financial strategies associated with it you should work with a tax strategist with real estate investing and financial planning experience.