Selectively display posts from other blogs

I am searching for a plugin which will allow me to display selected posts from other blogs. There is a group of people who, on the 4th of each month, post on each of their blogs a special topic. I manually put those posts on a static page with the title (linked to their blog post), and a summary of the post. I want to expand that to include a thumbnail from the post and the author. And I want to have it done automatically, without having to construct the page myself each month.

I know I can use a RSS plugin to pull in every post (or number of posts) from each blog, but is there some way to only pull in 1 post from each blog, and it must be the post I want, identifiable by either category, tag, or a selected phrase in the post.

I'd prefer not to have to actually import the posts, but if that is the only way I can do it, that is ok.

It's kind of like what I see on some sites where there is a slider which shows related posts, but instead of related posts from my blog, I want related posts from others' blogs. It doesn't have to be a slider, but that is the ideal.

I hope I am explaining this clearly. So far I have not found a plugin which quite does this, but am hoping that someone else has. Thanks!