I was considering submitting 2 different offers: 1) straight purchase offer which will be considered a lowball and probably dismissed and 2) an offer where we partner with the landowner who can profit too on the condo developmentI'm seeking ideas on how to creatively structure the second option understanding we would need a good Attorney to protect us if the creative offer was accepted. 

What are the chances that the home would go straight to auction after being foreclosed?

@Daniel Weber that is the most straight forward advice I've received so far.

It's pretty straight forward.It saves you money on closing expenses and interest payments and allows you to get a better price because all cash is such a big incentive.

Im in Southern California and this is not a straight up deal, but possibly something there with numbers seller wants and the property.

@Michael Powell, Straight off the press here at Bigger Pockets (well a few months ago anyway) we did an industry survey for BP and you can see the results here - https://www.biggerpockets.com/blog/how-much-does-a...Thanks for the shout out @Natalie Kolodij. 

Get that straight before an offer.

This has almost covered all of my expenses to where all of my full-time job income goes straight into repairs/savings for another rental property.

Anyhow, I don't know where you are at in your investing IQ, etc and therefore I can't give you a straight answer.

However even though I have been in contact with the company a few months before purchase they still have not given me a straight answer about when they are picking them up.