It depends on your personal situation, risk tolerance, and future goals; and there are legal, tax, and practical implications (banking, financing, insurance, etc.). 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Practice your pitch!

Is this common practice?

BTW, this is one of the most practical posts I've seen to date on BP.

A qualified professional appraiser will generate a comprehensive analysis considering factors such as sales comparisons, highest and best use, market conditions, and income generated following Uniform Standards of Professional Appraisal Practice guidelines.

None of the above works unless you take action and put it into practice.

I am new to BiggerPockets and real estate investing and I am looking to invest with the BRRRR method as I'm currently learning as much as possible before I put this method to practice.  

You can drive for dollars, go after pre-foreclosures, distressed sellers, PPC, organic search SEO, MLS expired, FSBO's, r.e. agent network, estate and probate, on and on and on. 

In addition to setting up a website and dominating the relevant SEO, I'd add the following tips:Assuming you have sealed deals before, try to trace a profile of your audience.