That strategy only works if the asset appreciates nominally at greater than the rate of inflation and prevailing interest rates combined. The way normal people do this is with home mortgages. The reason this is effective is because you have to live somewhere, so in this case the asset appreciation only needs to outpace inflation and the interest rate minus what rent would have cost you had you not bought.

Short answer: If there were a free lunch, someone would have eaten it already.