I have come to the conclusion that anyone who went bankrupt or even lost a considerable amount of their net worth did not have enough cash reserves to service their debts. there are many ways that people run out of cash  so each time that is different, but ultimately it's the first few Dominos that start to fall because  they could not pay their creditors. 

I'll appreciate reading the answers and your opinions concerning those questions, I know I make too many questions but I don't want to be bankrupt on the first purchase. so for that reason, I would like to see your history.

He said he works for a company that feeds on bankrupt companies, so I guess I won't be seeing a sob story from him about losing his job!

If they're too broke to retire...they'll eventually go bankrupt likely as they can't keep up the house, and then have to sell to an investor. 

You need to have insurance anyway with your LLC otherwise you’d probably go bankrupt trying to protect your assets instead of letting the insurance company do it.

Many of my high paid colleagues tried it and failed, bankrupt. 

If it takes 3-4 years to sell the lots, you will go bankrupt paying taxes and land maintenance. 

Elon Musk is on record stating Tesla almost went bankrupt numerous times.

I’d argue that in 20% interest environments, buying a 12% CAP rate would cause you to go bankrupt if you are using debt service in any way.

Is there no grocery store in the area because the last one was looted until it went bankrupt and closed?