Personally, I gave up on that about 15 years ago. I found that the time it took me to conjure up all that I'd forgotten since high school electronics, put it to use to solve problems, etc. was just too great. And, if I wasn't doing it everyday then I forgot nearly as much as I remembered the next time a project came around. Regardless, I have no "inventory" so to speak of parts required to make general electronic repairs - other than a huge stash of bulbs and tubes.
I'll swap bulbs, replace glass, clean pots, do light electrical repairs, and do cosmetic restoration but the tough electrical troubleshooting - no thanks. Now, I just take it to Cornell Smith (The Audio Doctor - he's local to me). His rates are very fair, he's quite competent, and he has the parts in stock. What's not to like? I spent ten hours futzing around with an intermittent MR77 a few years ago before finally throwing in the towel. Cornell found the problem, repaired it with McIntosh replacement parts he had in stock, and aligned the tuner to spec in three hours. Bargain. It sounded sublime.
QS - you'd be money and time ahead investing the money you would in a bunch of test equipment (that takes years to know your way around btw) and put that same money towards finding a competent tech near you. Here at AK, if you read enough "re-cap" threads, you begin to wonder - did this unit actually meet spec after all these components were replaced blindly? Who actually verified that? That's what separates the technicians from parts replacers - the big picture.
OTOH, if you elected to enroll yourself in an electronics course at a local community college, read books on the topic, etc. then you could learn the trade and how to put the tools to work to help you solve the problems. But, it'll take you ten years at minimum to be considered competent. Nothing worth doing is ever easy.
Patrice, Chris, Cornell, EchoWars - you have my utmost respect.