Making Money: The Multiple Website Approach

I've run across a few programs that are based on the idea of creating multiple websites.

Here's the basic concept: you do keyword research, build a small website around that one keyword (or key phrase), and you monetize it.  This seems to be what programs like Google Sniper and The Mini Site Formula are advocating.

Has anyone out there tried this strategy?  I'm assuming it could work if done correctly, but I'm not sure I'd personally enjoy it.

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