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From what I have heard, and we are in MI too, straight adopting a young child 0-4 through foster care is certainly possible, but will likely take years. Likely. That's what I was told. However, straight adoption would probably be the best way to decrease any feelings of heartache or loss (emotional roller coaster), however this process will just take longer.
Right now we are open to fostering children 0-4 years old and have two biological children of our own, 2 year old and a 4 year old. We tell our children that the foster kids who come to stay with us are not coming to stay forever. We say he/she is coming to visit for awhile. This has worked out well so far. I know that we will miss the foster child when he's gone, but we take lots of pictures right now and I plan to let the kids write letters or cards to him and if possible remain in contact.
Some agencies we have talked with really shy away from "foster to adopt" and others are open to it. They are not all the same. So, find an agency who is open to what you are looking for. You certainly can foster to adopt, only accept children who have been TPR'd, or who are low legal risk.
The statistics I have read in MI are as high has 80-90% of children in foster care are adopted by family or their foster parents. So, it is very obvious that to adopt a young child from foster care, you should become foster parents and while doing so find an agency who will place low legal risk children or ones who's parents have lost their rights into your home. But, if you don't mind waiting a while to straight adopt a young child, then you wouldn't need to foster.
There are plenty of families on this forum who have adopted a young child from foster care. I am sure it takes a lot of patience, some heartache, and of course love.
Best of luck to you! :-)