The lot was actually owned by a bankrupt mortgage company and I ended up buying 10 lots from the officer's of the company, who didn't know that they hadn't been dealt with in the bankruptcy.

Not with them going bankrupt and not knowing how to reduce spending.

Then you can weather a storm if you don't have lots of payments and leveraged to your eyeballs, plus have some cash reserves, so if a rental goes vacant for 2 months and you need $5K worth of repairs, it doesn't bankrupt you.

Paying $100,000 for a house that rents for $950 is a good way to go bankrupt.

Will you go bankrupt?

The tenants just gave notice (6 months in) that they are going "bankrupt" and needing to bust the lease.

I don't have all the details, but I believe the builder of the subdivision went bankrupt during the mortgage fiasco, so prices have been extremely deflated.

The city is bankrupt, has high unemployment & crime rates and the population is declining.

They find out that Hardees has been putting crack cocaine in their bread, hardees goes bankrupt.

Look at all the bankrupt real estate investors who invested in only Las Vegas or Florida or Southern California!