How old are you? Are you willing to spend 2-3 years making pennies per week building great content? Are you sure you are that dedicated? If you are, you just may be able to do blogging for a living. I am not that dedicated personally, but those who are making a decent living.
damn, its really that bad? even if i build backlinks and unique, keyword-driven content?
i'm also planning on doing this on a bigger scale. i'd start up at least 5 blogs at first and post an article on each one every day, based on current trendy and somewhat common issues/topics. then once i get the hang of it start another 5-10 blogs and see where it goes from there.
I would say just stick to 1 or 2 blogs and try to post as many articles as you can each day. If you are looking for a good income, 1 solid blog with TONS of links and high authority will bring you more opportunity to make money than 5 smaller blogs with less links and less authority. A blog that provides full time income needs to be able to get natural links from other high authority sites. If you find you can manage 1 blog posting 1 article every 1-2 days for 1 month, then sure add in another blog if you want, but just see how you do for the first month.
Real blogs take dedication.
You don't make money from blogging. You make money from people who visit your blog buying your product, selling links, setting up affiliate networks etc. Not from blogging.