before buying a domain and hosting. Chalk out a plan. You have enough to get started. Find a niche, then keywords which you can target. Give it a day. Once you finalize then buy a domain and hosting. Host it on wordpress. there are plenty of themes available here and on other forms (both free and nulled) . Download and install one which suits your niche. If you have some money left and you are lazy then buy articles for your keywords and posting. Around 3 a week. Then make a facebook page, pinterest profile, twitter etc. Then head over to the BHW's freebies and giveaway section. You may find someone giving away FB likes , pinterest followers, twitter followers etc. Make use of it. Whatever you post on your blog, also post it on these social networks. Then comes link building and finally once you start ranking and getting traffic youll make a lot of money. What all i said is just a summary. I am sure there are detailed tutorials here on each topic i covered. Use the search button to find tutorials on the follwing points
1) Finding a niche
2) Keywords (especially long tail which are easy to rank)
3) Wordpress tutorials ( plugins to use )
4) themes ( free and nulled)
5) FB fanpage & Link building
Best of luck
but you can try messing with it and get a chance to familiarize yourself with web server.
