Buying rental properties from wholesalers?

[Andrew Tegeler]

has anyone ever bought a rental property from a wholesaler? With owner financing? Seems really expensive, the Terms are 12% for 20yrs with $2000 down payment purchase price is $29995. It is a duplex in an area that I can normally find houses for 17-20000. I am currently pulling a line of credit to purchase another duplex so I don't have cash to buy it. That is why I am interested Jan the owner finance. Is they a stupid strategy?