Firm offering rental properties

[Salil Prasad]

This is a great site, thank you to all the members. I came across this site while checking out reviews of a firm selling real estate investing class/coaching.  I did learn a number of concepts though.

I recently came across a firm (http://nria.net) that based on the good credit score of investors, buys land, builds a SF home at pre-negotiated price with builder, gets 100% financing from bank based on equity by the time house is ready and then works with property manager to get guaranteed rent (or else they pay mortgage for 5 years). 

I would like to get your expert advise how to check the legitimacy of this business and weigh the risk (of course losing equity in 5 years is one but that's true with any rental property)