Has anyone used strategies in similar situations to keep purchasing deals? 

They do not believe they have any responsibility to prosecute criminal tenants and see the situation as too stressful, costly and time consuming. 

PM has a very good info on what kind of situation the owners of the properties are in.

I know that every situation is different regarding who the borrower is and the foreclosure regulations regarding the location, but I was wondering how often it happens and how the process usually pans out when purchasing a non performing note (whether a failed loan modification or initial purpose for foreclosure) and issuing a foreclosure.

hi Chris  Cozzens it will be very difficult to achieve more than the 1% rule in New Jersey with the high taxes ,  unless u invest in the urban areas you mentioned .

My goal is to offer a win-win situation for the seller and buyer.

Because of our situation, I'm trying to be creative with different financing options.

Does anyone have any advice on how I should approach this situation? 

You may be able to develop a solution based on some similar situations others have been in.Best of luck.

From my perspective ( I am no expert) prices have risen substantially over the past 7 years (as everywhere) and it is difficult to find properties that meet good cash flow criteria at the moment.