Here's an article I found:http://www.nolo.com/legal-encyclopedia/bankrupt-tenants-how-new-bankruptcy-29689.html"It's not uncommon for tenants with significant financial burdens to declare bankruptcy.

Or if your building can be used by..... lets say Jiffy Lube Oil Changes, and they're bankrupt, who wants to lease your space ?

When he first heard about me getting into rentals he thought i was an idiot and his daughter and I would end up bankrupt living with them.  

Its was good business sense to bankrupt the company to get out of paying that amount.Just open another company, and continue on.

Spend less time worrying about "mission statements" more time working on goals,,,I don't have a "mission statement", but I do have a written set of guidelines of what I'm looking for in a house, what area I am willing to invest in,,,and why.I'm not a wholesaler, I buy and hold, I have a defied "mission', but don't really care much about something 'flowery' for others to read.I've been in business development in the media industry for 30+ years, I bet i haven't read 5 mission statements in all that time,,,the few I have were in companies going bankrupt I was looking at buying, just to see what they thought they were going to do.It's about action,,,the biggest problem for the first time investor is making themself take action,,,,is there a chance you will make a mistake, sure we all have that chance,,but it doesn't keep me from moving forward..Execution is everythingandy

Matter of fact, one of them went totally bankrupt and still has not recovered from it.

I have said it before I will say it again with out BP I would probably be bankrupt or in jail haha. 

This is especially true for the big ones that are bankrupting our country with the help of a complicit government.

Just kidding.. it's when someone is underwater on their mortgage(s) on the property, and they need to sell it by having the bank take a hearcut on the amount of money that is owed to them vs going bankrupt. 

Now, all we have to hope is that country would not be bankrupt when retirement time comes...