It can make you rich, or it can bankrupt you.  

If it did, all landlords would be bankrupt and in jail.

Do a search as many, many, many people ask this question weekly.The bottom line is you can do it, but be prepared to lose it all and go bankrupt.

My family worked in the mortgage business and went bankrupt due to the market in 2008. 

Starting with 40 C/D class apartments spread out over 7 cities is a good way to go bankrupt.

I do worry that if I scale too large it may be possible to bankrupt the smaller brokerages; especially if using the even more fringe non-SEC regulated entities.

Now if her business is effectively bankrupt and she hasn't signed personally, she could walk away.

Reminds me of a guy who had been a real estate reality star and went bankrupt.  

The condo HOA often holds up the closing, with the new owners getting approved by the board timely, and getting the management company to respond to requests also.And, the banks are more leery of lending money for a condo, if the association is not financially sound, after many HOA's didn't get a lot of dues owed from bankrupt former owner for years. 

I had a client with a 100+ year old telegraph easement and a separate water flume easement from long defunct companies that went bankrupt during the great depression which were removed this way.