ive never heard that approach and if it actually works i need to start walking around my town and knock on 80% of the doors. lol I really am curious about this method.. has it worked for you in the past?

Is there any other way I should be approaching it?

I know that some use the diversity approach to buying properties so that they do not have all their eggs in one basket.

Also I was looking for advice on how to approach Real Estate Agents or other investors for help in learning the business.

There are a ton of good approaches to building a Buyer's list, and you should implement multiple strategies. 

(There may be longer fixed-rate products, I'm just not aware of them yet.)One advantage of 5-units and up, is that the appraisal will place more weight on the Income Approach.  

After developing your "personal touch" and adding experience you'll be able to hone in on your desired approach.

Kim,The neighbor was approached by the bank before the house was put on the market, MLS, and they rejected his $80,000 offer.  

Introduce yourself and let them know that you were approached by someone trying to sell their house and you're interested in buying but you're suspicious that something isn't right about the situation.

I haven't  tried this approach yet as my first home was a primary residence before converting to a rental, but I have spent time cultivating a relationship with local lenders (and investors) for when I am ready for my next deal.