The only way the bank wouldn't be the owner, is if they went back into court, reopened the foreclosure case, and had the sale vacated, due to some error.  

In talks with my mentor who has done this numerous times, as long as you are making the payments, the bank does not care who owns the property and will not call the note due.

I want people to be able to utilize my relationship building skills and my ability to get across from numerous people at one time.

Many suggests cold calling, door knocking, and farming your base etc but after listening to numerous podcasts I'm hearing that door knocking and the "beggar" approach isn't necessary with proper marketing but that's where they left you hanging.

I can give you anecdotal evidence - there were numerous 1BRs that sold for below 100k around 2010, for example on Summer St and Glenbrook road.

Will save you a lot of time and errors.

I have been absorbing them and have heard numerous episodes that address your very question.   

The approach my investor had was straight talk about the numerous issues he saw, some of which were not mentioned by the GC:  foundation, water damage that may have come from the outside, perhaps from the runoff from the neighboring property, rotted base boards in the corner (water damage) that could mean deeper issues.  

But in commercial real estate your risk is lowered extensively by doing proper analysis of properties and only moving forward with the ones that are numerically "Good Deals."

An error doesn't become a mistake, until you refuse to correct it.