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You have a good idea what you are getting into and the patients to see it through.I'd like to mention to you that in a bankruptcy deal the court will appoint a trustee, aka another decision maker in the process. This has been a problem because you the buyer don't have a relationship with the trustee and they seem to have their own timelines. I've even had the trustee come back with an increased counter offer after the bank and seller were already in agreement. The trustee has duties to the seller's other debts and that is an agenda you don't have control over.
Best of luck to you on the transaction, and get as much back ground as you can before starting the adventure
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