We are currently renting a house through a property management company and the owner came by and told us he was in foreclosure and asked if we wanted to buy. We have looked into and that is not a possibility.
We have found a perfect place for our family but they want us to start paying right away. Do we need to give the Property Manager a 30 day notice still to avoid lossing our $4,400 deposit? Our rent is $2,200.

You are still obligated to your lease ifyou have one, or rental agreement, Only if and when the mortgage company or bank does the actual foreclosure ( and that could be months from now) does the lease or rental agreement become void.

So yes you will have to give notice if that is within the terms of your rental agreement