I was simply explaining the hazards of buying or renting property where you need those companies supplying renters and cities allowing it, to avoid going bankrupt. 

They told him it was way too expensive, he would go bankrupt, blah blah blah.

I used to say to him you mean go big or go bankrupt.  

What they don't see is him going bankrupt right out of high school trying to start the exact business that he and his partners have now built.  

They are as follows:The ownership rights of the partnership cannot be individually transferred, sold, or given to anyone outside of the initial three owners (My father, uncle, and aunt)"Buy-sell event"- If any one of the owners become incapacitated, pass away, become bankrupt, or get divorced, this triggers a buy-sell event automatically.

So if the LLC goes bankrupt or gets sued (not that we’re hoping for for that obviously) then your personal finances would be untouched.

The problem with ignoring them, however, is that if they swing at the wrong time (for you), they can cause you to go bankrupt FAST.

@Chris Mason, the bank will force the sale of the property and pursue/bankrupt the owner for any shortfall.  

Bank of Canada will follow the US in maintaining reasonable rates and to not bankrupt the country.

In the morning, it blocks sunlight to the street it's located on, and I was glad he ran into financial difficulties, in fact went bankrupt, when selling it.Then there's a Mercedes dealer that owned an empty lot across the street from him, tried to get zoning approval for  parking lot which he never got.