California pre-foreclosure strategies in todays market

In 1999 I was able to purchase 7 pre-foreclosures, and still have 1 of those properties today.
Well California now has laws in place to protect the homeowner from shady investors that stripped people’s equity.

OK so now we are in 2008, and I see more pre-foreclosures now than in 1999. My question is what strategies are investors using for pre-foreclosures in today’s market.
In 1999 all is I had to do was pay the delinquent amount, give them some walking cash, and that was it.
I just have not figured out how I can get back into the game for todays market. I would like to hear from investors on what your doing.