Expired Domain Name Strategy

Hi Guys-

I own a website and have noticed that 2 of my competitors have 1-2 other websites in which they link long tailed keywords ( literally over 1500 links pointing to unique pages on the money site). So, I have decided to follow the same strategy. Today, I purchased a new domain name and I'm planning on purchasing a High Authority ( PR/DA/PA) expired domain within the next 2 weeks and 301 direct it to the new domain, while building fresh new content for the new site.

My question is:

1. Will this work?
2. How long will I need to wait until I add my links?

There was a post talking about buying a bunch of domains with high pr and doing a 301 redirect which does work well.not sure what post it was

This one, blackhatworld.com/blackhat-seo/black-hat-seo/433251-new-way-successfully-scam-google-into-ranking-your-site.html

Thank You