Yes, my friends have tried setting up a master node. They succeded and had some huge gainz so they went greedy and they started creating new ones instead of selling. Guess what? Those master nodes are worth 0 now.
That doesn't mean masternodes are a bad investment... Doing your research is SUPER important to invest in a good quality coin and team. Also, all coins were subject to the huge downward market movement from January to March/April.