You are asking the wrong question. cloaking cannot be cheap, nor easy. Cloaking is a method. you show one content/website/etc to certain group of users and different content/website/etc to a different group of users by a set of rules you define of the different groups. Whether cloaking is effective for making money or not is up to you. Nowadays, cloaking is mainly used with paid traffic to drive traffic to websites/landers/offers that the PPC networks wont allow as it is against their TOS. Now, can you make money with cloaking? absolutely. Can your accounts get banned? of course. Is it worth it? up to you, your experience and the niche you target.
