I tried that method and never could get it right:/ I didn't have much money either, so I bought a used one off of Craigslist

It is a cheap ebay made in China one no less. However, I did intend to sell caps and I have made a mint, earning many times more than the price I paid. I bought the cap press in Feb.
Caps are a very high return item. you pay $2-$4 for a basic pigment dye cap, or even less for a visor. You can gang up your transfers or in my case I make rhinestone designs and apply them. I sell them at horse shows for $25 each and people snatch them up. I had them priced at $15 and $20 and people right off said I am not asking enough so $25 it is. I paid $100 or so for the press, so you can see how the math works out.
I even purchase embroidered caps for just about retail, bling them and still make $10 / cap. I love caps

Not that I am trying to help you justify buying one, but I know you could get your money back in no time if you did get one.