Not really, but that method has crossed my mind when deciding between 3 opportunities.

I used both methods to get my downpayment for my first rental. 

Check the inside of the unit methodically in a clockwise direction feeling each crack an cranny with your hand.

I always recommend people take or set up real estate investing in a systematic, methodical approach.

I've heard of people.doimg that and losing money.Check your comps manually using the enemy method.

I did learn a lot from, and still do, the non-pay methods, but the best came from the ones I paid/pay for.Also, just jumping in doesn't teach you anything but what not to do. 

Same thought process goes for a Duplex or 4 Unit.Once you are comfortable handling everything on your own, then you can be happy when others are paying for your mortgage and related expenses and raising the value of your performing asset.IF, however, you feel like you would struggle and stress out over vacant units and high expenses, then you may want to rethink your strategy or downsize to a Duplex.You also need to be aware of the changes in tax breaks, deductible expenses and overall accounting methods used for when the building is occupied by the Owner so be sure to discuss your overall strategy with your CPA/Accountant before deploying your cash.Good luck!

What does your actual purchase price usually come out to be using your method?

That seems to be a very popular method of investing in SW Florida.

If there is more than one Note or if there are liens against the property, this method obviously gets more complicated.