Sometimes you get formidable results by taking watercolour on a toothbrush, do some spraying with your thumb or forefinger onto a sheet of paper, then transfer it to AI and make filled paths and some blurring, if that is desired.
There are other ways.
Which version of Illustrator are you using?
Would I manually create shapes?
I think I would start off by scanning in some hand drawn spatter and stuff.
Your example looks as if it would be better suited to Photoshop than Illustrator.
This kind of thing should definitely be avoided in a logo.