Well one of the sites I'm working on was a spur of the moment type of deal. I work for an optometrist in the administrative side doing medical/insurance billing. The practice consisted of three separate offices of which one office lost their lease and split off into a separate practice. The new practice had a relatively boring wp site using the default 2012 template. At my own time/expense I got a very similar domain name to theirs, copied most of their info, put on a elegant wp theme, site map, converted some of their posts into separate pages and basically made it look pretty. If you do a google/bing/yahoo search I outrank them on pretty much the first 2 pages for the keywords that pertain to the practice.
But like you suggested long tail keywords is pretty much the key to this. So my whole plan was to either..sell the site back to them since I'm just drawing in all the traffic, or ask them if they want to hire me to do their page since when I was initially hired to do the administrative stuff, my boss asked me if I could do wordpress and I told them I could. Nothing ever became of that..until now. If it doesn't pan out, I could either throw on some ads, change the content around and just monetize it at their expense (or lack of it)...until whoever designed their crappy page sends me a cease and desist order.
Oh and in terms of how fast it ranked..their site was up for a good 1-1.5 months...mine was up for almost 1.5 weeks as of today