Someone will use that concept somewhere to make a fortune. Someone else will try it and lose a fortune. Hard to tell in advance which one is you.
My limited experience and observation of real estate (20+ years but very few transactions) is that in small/rural markets, which I assume you're in, real estate is a lot like poker in that it conforms to the sucker rule. If you don't know who the sucker is at the table, it's you.
To me it seems like real estate is mostly a business, meaning a participation sport that involves experience or other skill acquisition, rather than a passive investment. As such, the probability of winning or losing money is more affected by your skill level than anything else. Are you skilled in real estate already?
I like the idea of limiting your risk, but suspect that the risk in beginner cases is not likely to be recognized until after it's too late. My suggestion if you want to be in real estate is maximize your learning-to-risk ratio in every way you can.