@Ed S. Not crazy at all! My wife and I did over 300+ miles of "Biking for Dollars" this summer. I got a Rockform iPhone stem mount which helps. Use a GoPro as well with GPS to review time-lapse photos later. Faking a flat tire can get someone to come out of their home and say hi and offer assistance ;-)
@Gail Govednik No doubt driving/biking for dollars is not for everyone, and that's fine. Different strategies for different people. And I certainly agree that it's foolish not to leverage the data and systems to research and target properties, streets, and neighborhoods...But!
Data alone can fail to inform you of many aspects of the properties and neighborhoods that can only be observed or discovered by visitation.
For example, it's fairly common to discover upon visitation that the "owner-occupied" property is actually a rental. The motel is now MFR. The public record was never updated. Or the SFR with NO pool and yet as I peer over the fence...yup! There's a pool. Observing a tricycle and toys on the front lawn tells me there are young kids present. A bumper sticker or political yard sign may give me an approach to make a connection when I knock the door or talk to the neighbor.
Other insights are only gained by speaking with residents and neighbors.
"Nancy across the street fell and broke her hip about a month ago. She's 93. Doubt she'll be returning. I've seen her son, who owns the home, over here a lot starting to fix things up. Looks like he may be getting ready to sell to afford to put his mom in a senior care center."
Once I discovered from a friendly corner conversation that the neighborhood was built during the post-WWII metal shortage and all the sewer pipes were made from clay. That I'd better research whether a specific property had updated to PVC. Otherwise, there was almost certainly going to be a hidden cost of $20k within 2-5 years to update to PVC. He was pretty vocal about it because no one told him and he got nailed. Pretty much every sewer pipe in the neighborhood was starting to fail with root infestations and the City was only updating the main.
Relying 100% on public record data alone can increase your risk for missing deals or making a bad one. You don't know what you don't know, and failing to observe and validate creates opportunities for those willing to jump on their bike, get in their car, and go knock on doors.
Again, I agree, you'd be remiss to not leverage public data and the systems that assist investors to target their next best deal. And that alone is awesome for many. But relying on data only creates myopia in the market and presents an opportunity for those willing to pound the pavement and knock on some doors.
