It appears they executed a purchase of ATMs and their funding fell through and between that acquisition and TR-31, they have a liquidity crunch. 

It can be done but it has to be in markets like we have here in Portland that has a SEVERE shortage of buildable lots and highly liquid builders or big companies to sell them to..

So the next important question is when would you like liquid access to your investment gains.

The seller could go after (sue) the buyer for liquidated damages.

@Ronald MejiaYou can buy in cash and or use a large down payment, 60% for example and you can lock in a rate that cashflows so you can have some liquid cash for unexpected expenses or use that cash for the down payment on the next BRRRR.

If I file the bankruptcy I understand all the assets I have must be liquidated.

I looked at almost every market in florida before I relocated from columbus ohio because miami Dade County has the most net migrations in the entire United States for one county. we build it in columbus ohio and it is worth approx 215k a door but down here all you'd have to do is change the assemblies and in miami that triplex would be worth more than 300k per door so closer to 900k depending on where you built it. new construction single family homes are going for around 330 per sq ft in the same area and a triplex is considered residential. by building codes a 4 unit is commercial I'd recommend 3 unit first or going as many units as possible if you have backing or your own cash. for each one we do we recommend 100k of liquidity. 

I have located a second investment property that is a perfect BRRRR opportunity but lack liquid/capital.

By that time, I hope to have around 30k in liquid assets to purchase my first duplex. 

Maintaining liquidity will allow you to take advantage of opportunities quickly, moving fast when a good deal arises.