What would be my best course of action to obtain the property at that point?  

In conclusion; I work hard, I'm determine, love to learn, I'm helpful, not afraid to ask for help, have a vision and a plan to obtain it, will take action, No handouts wanted/needed, I'm honest, trustworthy and true to myself. 

You're already taking great action by joining this forum and being active.

I currently work for a software company as a Systems Engineer, but in addition to my 9 to 5 I am looking to take action on my interest of Real estate and gain financial freedom. 

that's a great course of action that I plan on using.

So, this nice couple thought that the bank has already taken over the property and were surprised to learn that Citi has not even filed a foreclosure action yet.

Based on your feedback, it's looking like the best course of action is to sit tight and bump rent up upon lease renewal to increase cash flow.

@Bill S. ...exactly, no matter the cost, it will take Action...I also believe working with someone locally will be more beneficial..

Do your homework and take action.  

Reading a lot of post and a couple of blogs and podcasts. found potential flip/sell deals working with a realtor but unable to take action because of lack of experience and enough capital.