To be brief, I have a seller in pre-foreclosure and I want to give him options because a straight cash deal doesn't work. I have never done a wrap, and want to know if its possible with someone in pre-foreclosure. Anyone ever done that? I am in Ohio.

Sure it's possible. Can you bring the seller current and take over the payments? 

Yes, the payments and catch-up wont be a problem. The only thing I could see they might have an issue with is that I just switched to full time investing, so no more W-2 income. 

Well if the seller is okay with that situation, and the numbers work, there's no reason you can't do it just because its in preforeclosure. 

So if I am reading you right, the bank has no say in the deal? 

In a wrap the original loan stays in place. Maybe you are thinking of assuming the loan? There are very few lenders who allow you to assume loans and sounds like your financing limitation would be an issue.