As @Steve Jones mentioned, you should keep up to date with the city requirements.  

Can't wait to hear from you all.

As for the above mentioned property, it sold for $25K.

Thanks Rob Myers for the mention of the exit strategy - that's been nagging at the back of my mind as well.  

Association rep says I'd have to wait for it to go to Auction, but really would like to avoid the commissioner showing it for 3 weeks prior and having open house in the place where I live...So any thoughts on how to get in touch with the lender or lawyer maybe to see if they'd entertain an offer?

Next time, we'll be more patient and wait until it is completely finished and staged.

If she can out show she's serious and put in higher offer and the numbers still work some of those sellers may prefer to wait.

Also, even if the previous owner only owed 60k, you have to take into consideration the cost of foreclosing and the lost income if they hadn't been paying for months or years, not to mention any other costs of satisfying tax liens or maintenance issues that need to be resolved before sale.So, speaking as someone who has bought only 3 foreclosed properties:  You make an offer that works for you, and depending on how anxious they are to sell it, and how much interest they've had, they will accept or reject.  

You're already in the right place to have the help you are requesting, just keep hopping into these forums and ask questions, read posts and comment and as @Mindy Jensen mentioned, you'll find yourself in communication with local investors who you may be able to do some work with & for over the next couple years to really get your feet wet in the industry.

The only way I can think to guarantee their return is to wait until I have a deal I hand and then present the numbers.