But it feels like if you keep cashing out equity on your properties to buy another, you end up with multiple properties but with your equity stretched really thin, like a house of cards ready to collapse. 

Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.Here are the negative consequences, in regard to real estate, of filing bankruptcy1.

You may just stumble into seller financing if play your cards right.

Dedicate one checking account and credit card exclusively to real estate.

At the moment with 3 rentals (6 total units), I have one account and a credit card associated with it.

It's like flash cards for fast learning.

I wasn’t late on one credit card payment.

If you do decide to do mailer(s), then I would advise you to personalize the card and do a handwritten note. 

And a few from 0% interest for a year credit card loans too.

Personal loans through the credit card companies can be approved and fund very quickly and my best rate is 7.9% so shop around as some are much higher.