Equistream - Hands off investing?

[Kellen Driscoll]

Hey BP,

I saw one previous post regarding the company Equistream. Apparently they are a company that buys cheap property in bulk from banks with your money and sells said properties to homeowners for a markup leaving you ( the investor ) as the bank ( seller financing ). 

Example you give Equistream 15k and they buy a house in Ohio at a discount, resell it for 40k leaving you as the note holder collecting mortgage payments at higher interest rates (due to the lower qualifications of the tenants/buyer) on that 40k. Apparently if the tenant/buyer defaults on the note, Equistream handles the legalities.

There are obviously some clear benefits here and to me it sounds too good to be true. Has anybody had any experience investing with them?

Thanks!