Dave Ramsey isn't wrong, but he is miles from "right" on how to utilize money because he DOSN'T teach or speak of how to utilize, implement, leverage or deploy money as he dosn't know how to himself, hence the trail of bankruptcies. 

The best offer we got was $425,000 and he was so upside down that he had to walk away and declare bankruptcy. 

Your income on a team won't be good but if you can subsist you'll be learning and hopefully you will survive your 1st year without filing bankruptcy. 

Even if you go through bankruptcy they cannot be discharged, so I would pay those off first and fast. 

Bankruptcy while in primary residence is not a strong enough incentive to sell either.

When companies forget that, bankruptcy and failure soon follow.My $0.02 ...

Vetting rehabbers, loan servicing, drawing notes, filing nod's, tax returns, lending attorneys, bankruptcy attorneys, REIA meetings, escrow officers, title officers, appraisers....and on and on. 

CPS cannot currently file for municipal bankruptcy in Illinois, although there have been attempts to change state law to allow such a move.

JC Penny, you mean entering bankruptcy-JCpenny?

IMHO, Assets will move from the overleveraged to the underleveraged either by choice (deals) or force (bankruptcies).