Hi - I am following on two properties in Plano, TX - one that has gone through foreclosure steps and another that is in the pre-foreclosure stage.

Thank you.I'm a newbie investor, but currently my interest are foreclosures, REO.

If I let the foreclosure process start to take place, and have the borrower (my grandmother) willing to work with me, would it be possible for me to purchase these notes before foreclosure at the usual discounts?

Foreclosure?

Wait for foreclosure process, and drag it out as long as you can making sure you collect rent during that time.  

Not much help there.But today, I got a call from a realtor saying they were taking my sign down, asked politely that I not put signs on Fannie Mae homes, and then she said its a foreclosure and if I'd like to buy it I should contact her.The home is not listed yet, so what does this process look like?

We got started with very little 3 years ago when we purchased our first personal property that was a foreclosure.

We got started with little money down buying a personal property that was a foreclosure and fixing it up.

Link: http://www.realtytrac.com/content/foreclosure-market-report/best-and-worst-markets-for-buying-rentals-in-q3-2014-heat-map-8153

I want to offer on a property that I've found but the owner has said that she will take offers that allow her to stay in the property for another month or two into greater consideration than offers that don't.She's a sick elderly woman and she has a judgement for 60k pending foreclosure sale in November.