If you do a deal before you have a foundation of education, it can quite easily bankrupt you.Better to slow down, learn, surround yourself with the right people, and then dive in when you are actually ready.

In most cases, no buyers arrived, and the investors were bankrupt from the enormous mortgages.

I had to close my business and went bankrupt 10 years ago.

In all honesty the vast majority of lawsuits are settled out of court by people who cannot sleep at night because of a case they might win, but the fear of going bankrupt or losing your life savings from a $10 million lawsuit makes them agree to pay the $400K or $500k settlement rather than risk losing millions. 

People who had thought they were savvy real estate investors beyond needing a job were going bankrupt left and right. 

I’ll owe so much and may become bankrupt.

The same person who made the 1% rule also made the “$100/door cashflow rule” you’ll go bankrupt quick following that “rule”.

AFAICT this is a game of discipline where making the right moves can make you a lot of money but rushing in and not sticking to your criteria is likely to leave you bankrupt.  

I had a tenant go bankrupt and I had to pay the bill to get the water released to the next tenant. 

That way if you run into issues this deal doesn't bankrupt you.