What would be the best strategy for helping someone in pre-foreclosure?

Thanks, yes, compared to the strategies that I hear about in the US it does feel like tied hands.

I understand this is essentially the BRRRR strategy but with less of an emphasis on the Rehab portion. 

My strategy is buy and hold.Houses here start at $500k and go up to $1.1millon for a 3br/2ba 1200sqft.  

Short answer is for the BRRR strategy to work you need to have bought the deal in such a way that your purchase price, rehab costs and holding costs is no more than 70% ARV.  

The main thing about LOC's is to always have an exit strategy to pay them off such as a refi or completing a flip and so on.

But I know that the banks don't like me buying another primary residence and buying "down in square footage" Do you have any strategies on how I can go around this obstacle and still be able to buy the duplex, 3-plex or 4-plex with a FHA loan and live in one of the units?

Maybe you should save for a down payment before jumping in or look for a more affordable property or property in another area that is more affordable.One more thing: Know the strategy you want to use because that will affect your financing perspective.

Disadvantages - dealing with tenants, dealing with repairs and property managers, larger time frame to large sum profits.2.There is no average time as every deal is different and every investor strategy and ability is different.

One strategy is to use your self directed IRA to partner with yourself on property.