If you really do have 1k to apply to this project, have little by way of skills, but want to do things by setting up a site, here's a quick and dirty way to start:
1) Pick your niche and means of making money---Affiliate program, CPA, Adsense et al. Info on this is all over BHW and the web, but you can look here:
https://www.nichepursuits.com/best-niche-markets/
https://bloggerspassion.com/most-profitable-niches-list/
https://smallbiztrends.com/profitable-niches/
2) Select low competition keywords for your chosen niche, and url title. Get an account (paid or trial) at KWFinder, select 10+ keywords with 500-1000 monthly search volume, difficulty score in the 20s -30s. If using Adsense, select kws with $2+ CPC. Save urls of your main page 1 competition per kw.
3) Now start spending money. Get your url registered ($10-$15/yr), set up cheap but reliable hosting ($50-$85/yr). Cost---$100/yr
4) For simplicity, install and use Wordpress. Set up a way to automate drip postings, so you don't have to post manually most of the time. Ideas:
https://www.robertplank.com/drip-content/
https://www.wpbeginner.com/plugins/how-to-add-automatically-drip-content-in-your-wordpress-site/
5) Write one article per each main keyword (for the site), and one guest post per keyword, using cheap freelancers or gig writers. Cost---$100-$200
6) Write "listicles" per each keyword ("5 best ways to do niche word X," and such) using cheap freelancers or gig writers. Cost---$100-$200
7) Use the remaining $500+ to get more premium guest posts and press releases placed that point to your site. Break up most of the listicles, use them to A) publish mini posts on your site once per week/month, and B) for use as blog comments or social media posts. This way you will not have to think up new and helpful content much of the time, and your publishing activity will help keep your site looking active and fresh for the search engines.
There's obviously more to it than that, but going ahead creating, and populating your url with content is the big part of getting your money site going.