Ok, I've downloaded the guide and it looks promising. The guide seems to be very detailed, and includes some interesting pro tips that I never knew about. There are a couple of useful links to tools that will do everything automatically and also some screenshots to help you along the way.
I can't comment on the profitability of this because I've just read it and haven't actually started step 1, but I can say that it is indeed 100% legal and ethical, and that you can start from scratch (no capital needed.)

I will post a more detailed review in a week.