This is a very common question that we run into when talking to people who have experienced this type of problem. Obviously, we make a living doing this type of work, however, that doesn't change our answer, which is no.
With the exception of very small water based problems, you won't save money by trying to do it yourself. In fact, it will almost always cost you more in the long run. Here's why: most water damage issues involve a two part solution: