I also want to know about this. I did some research on pre-foreclosure homes. My general finding is that your realtor is not interested in doing this for you because the reward to them does not justify their efforts. It only makes sense when you can buy a large quantity of pre-foreclosure homes. However, not many people have this extent of financial power. I thought about grouping up my friends to do a project. But the foreclosure market has gone up so much that there are no really good deals left. It seems that we have to just buy foreclosure property listed, which is available to everyone.
I do wish to hear more advice or suggestions on this topic.