I have never tried this but heard about it.. Kim Roach (IM lesser deity who is actually on this forum) teaches it in great detail.
Vadym I think you are wrong, the bloggers you would contact would of course have to be big established names in the niche, not some smalltimers. And the content would have to be top notch. Then they would be happy to accept your content AND establish a relationship, instead of screwing you over once.
You hang out with the blackhat crowd too much
Kim made a topic on this forum (but also on other sites) about where you can find guest blogging opportunities. Look it up. She probably has a lot of tips about it on her blog too (havent looked there lately).