This is a feasible strategy, take it at your own risk. Supposing that your budget amount on 00. Though you're going to work online and at home does not mean that all will be simpler than a general job outside the comfort of your house, except that you are the only one that will administer your work and will decide when, how and what to do.
Thing to decide first, if you want to built a site or a blog. Search engine tend to prefer blogs lately, but if you built and run a website regularly updated, with a news script for example, and this happens at the right moment to compete with blog's system of posting (Cutenews - a good free news script), there will be no differences. OK, so after you have chose a site or a blog, there are some options: for a site you have mainly 2 ways: 1) built your template by yourself with an editor 2) using some free or professional web design already created, in this last case count at least - of your budget, for a blog it's easier, every blog script have lots of free skins to download.
Web Hosting
To have total control of your web space you have to buy a domain, domain + hosting -0 in average for 1 year.
With a Keyword suggestion tool find 5 or 6 keywords on the base of your site content, that will go in the meta tags of your index page meta keywords content. If your site's theme is make money online, chose keywords searched but with less search engine competition. Example: the key "make money fast free" has 5.540.000 in Google, not extremely competitive, therefore a good choice; "how to make money" has 62.200.000, hard competitions; "make money real estate" has 10.500.000 results, low/medium competition; "ways to make money" 37.100.000 results, medium/high competition. Etc...
Now that you have a very good looking website start to write contents, news, opinions, and built a few pages on related topics to your domain. Okay, next step, start to introduce your brand new site to the major search engines, and one of the quickest way is submitting your site/blog to others, better if related topic, site/blog. And here comes in advantage the rest of the budget. Site like linkadage.com give the possibility to choose between various categories to pick up an auction (yeah, just like eBay) like this "10 PR 5's only per month. Over 1000 sites to pick from" and reduce almost to zero the risk of being scammed by the opinions leaved by other customers of that vendor you are interested in.
So, supposing that you bought the 10 PR 5's only per month. Over 1000 sites to pick from package and another one similar of for example (before to buy, remember always to check your sponsors site's popularity, PR, backlinks, to ponder on quality/price report) your budget came in help to afford - plus - = -0 a month, or you can choose different combinations, it's up to you. And for almost 5 months your back is covered. This just to start, then after you're making money, because your site will gain popularity a lot faster than a free built strategy, make some counts and see what best suite your advertising campaign, if you want to keep on paying the same sponsor or change it.
Do not pass the 00, upper sums of money are an hazard. Takes that one thousand bucks like an initial investment and use no more of them to stabilize a website. Now, when you buy a link on sites like linkadage.com or anywhere else, remember to use those specific keywords previously chosen. Some lines above I use these keywords for example:
-make money fast free
-make money real estate
-ways to make money
one of these have to became the name of the domain, the title of the home page and the anchor of most of the links bought, for example in the package "10 PR 5's only per month. Over 1000 sites to pick from". This to make clear to Google spiders the topic of your site.
OK, and meanwhile that your site popularity reaches a valuable level you can add some ADS to start making money. Google AdSense, first, then came affiliation. If you have built a site about making money, you need to find services that promote how to make money online products, and affiliate to them. It's the same for every other topics, sports, gaming, fat loss, software, etc.. Clickbank and Paydotcom are perfect to start. FREE account registration for both.
PR - Many webmasters said that it is not important anymore like some years ago. Not really true. Maybe it is not important in search engines index position, so a site can be in the first pages of Google even if its PR is lower than others sites that are some pages aback. But if a site have PR >3 (with 1000 visitors a month) and its owner asks for reciprocal exchange to a webmaster of a PR4 blog, for example, in the 90% of the case the alliance will be done. Instead, if a site owner with PR3 (and 1000 visitors a month) asks the same thing to the same webmaster above, in the 90% of the case the answer will never come. And is not over yet, if you're a webmaster you already know the importance of PR outward of Google.com, the price of text links are based on page rank first of all. See the linkadage.com example "10 PR 5's only per month...", obviously 10 PR 3 links don't cost the same.
So, why the page rank is still important? For business, just business. I have already wrote about this, some time ago, anyway, buying links to increase your PR will give you the possibility to sell links in turn. Simple like water.
Last thing, when you're thinking to buy a text link, check the outgoing links too. Another example to explain myself better: you want to buy an adverting text on domain.com that have PR 5, control the number of links pointing outside the site itself. Domain.com has 300 links on the same page you're willing to buy a link, 150 of that link point towards internal pages of domain.com/... the other 150 are external, therefore the PR will be divided for all the 150 external links (we suppose that there is no "nofollow" tags). Less outgoing links better PR increase.
