Need help with affiliate Niche website Idea!!

Hello today BHW

Im 26 years old I moved back to my parents for the next 3 years so I can go to school and not worry about rent or bills. Since my job blows and im currently way underpaid for what I do, I began researching how to make money online through internet marketing. I had been doing research on online marketing for a long time now I made a couple blogs here and there and some wordpress websites to try to promote affiliate stuff such as clickbank, amazon, maxbounty and other such programs. The only problem was that I didnt know anything I was doing. I mean I learned so much info over the last 4 years from coming to well... BHW!, Warrior forums and a few others, but it wasn't until I sat back and finally saw the big picture that I began to realize the important aspects to becoming successful in making micro niche sites that would bring me a residual income. So here is where I need your help.

I have the following in mind for a micro niche site and am wondering if you could tell me if im going the right direction or not.(I believe I may be seeing the big picture, but maybe not the right picture.)

Hosting : Hostgator (already know how to use)
Domain: Namecheap (will search if godaddy or others have deals)
Niche: One with 5,000 monthly searches competition is low has 1.00 ad cost. Competition thats ranked #1 only has pr of 2 with 100 backlinks. I think its extremely possible to target buys with my domain and my keyword and outrank him, but im having trouble figuring out if Im even going the right direction with my idea. There is so much in the internet marketing world to decide between it makes me go crazy I cannot stop thinking about it, its to the point where I cannot sleep. Im so interested in it that im determined to make a career out of it or fail trying. I spend 8-9 hours a day studying and watching videos on this stuff every day but mostly info on micro niche sites or niche sites in general and how to use the tools to do the things I need to do to rank number one. I am thinking of buying Wordtracker, Market Samuari, Micro Niche Finder, or Longtail Pro but cannot decide. I have watched videos and know how to use all of them and know how to search and learn anything I would not know how to do so Im just wondering I really dont got money to buy them all which are the best if more than one why? I also want to buy SEOMoz Pro but dont know if there are better tools, maybe some that I dont even know about. Im willing to pay whatever it cost for the toolset that Ill need to go to the top but which tools do I need? There are thousands of them out there could you help to point me in the right direction or maybe tell me what you guys use and are successful with. I am only asking for your help and asking for you to look at my idea above and tell me what you think. What are my mistakes what am I forgetting? Is niche sites still profitble even? I currently have a dream to make 100 a day from a website or a group of websites, niche sites to be exact. Is this possible still with niche sites? If not could someone stop me and tell me what I need to be studying I really want to make this work.

thank you BHW and I appreciate any and all help you can give me and Im sorry I typed so much I wanted you to kinda know where im coming from in life, and where I wanna go and what I know so far about marketing. Also im sorry for my poor writing skills.

I don't have the expiriance to give you advice about most of the tools, but It's sound like you are in the correct direction.
Keep the hard work!

You should also give this a read http://www.seanogle.com/entrepreneurship/how-to-build-a-niche-site

It is still possible to earn money with niche sites. I would avoid SEOMoz pro. They are not worth the price and they won't help you much.
At this stage I think you are better with free tools or trials like Market Samurai. Just try various methods and you will succeed.

I will surely keep this all in mind and thank you for the fast replies. I have been researching a little further and have a few more questions. You know when you get on youtube videos to see reviews and gain knowledge on different money making methods and tools for IM? Well I was doing so last night and stumbled across a man named Ryan Maynard which is appearantly found all over the web for things such as a profit for dummies website and testimonials from other people on youtube that his stuff works and he helped them to make money fast and effectivly online and was just wondering is this another scam or is he the real deal? I ask because its very hard to tell the scams from the truth anymore. Everyone always sounds like the real deal until you get to the end of the video and the big "CLICK THE LINK BELOW TO FIND OUT HOW I MAKE MONEY" pops up on the screen and truely kills the whole idea for me as I start to expect they are just another affilliate trying to get email lists built up so they can make even more money for themselves instead of giving out free great info without clicking on stuff and signing your email address to see whats on the next page like they say they are going to do and really thats if the info is even worth it.

Another question is I was doing a lot of research on tools and methods for making money and came across what I believe to be a new tool for keyword research that is said to be the new go to tool for advanced keyword research. Its called Market Research Hero, but I cant find much of any reviews and no good ones at that just short reviews by a couple of people so I ask what is the best research tools to use if money wasn't an issue what would you more experienced bhw members choose to use for keyword research advanced techniques to get those golden nugget keywords? I read that market samauri is no longer being used since keyword planner was released and now long tail pro and others are the top go to tools so what other tools would you use in your tool box and what are their uses for. Im looking for the best of the best that way I can buy them if needed and never look back because I will have the comfort that professionals as yourselves have pointed me to the tools. That way I can begin to start the fun stuff such as developing my website around my golden niche. (In case your wondering no I havnt started my new project yet because I can honestly say I have never felt that I have found a keyword or words phrase that I feel strongly spending my valuable time and money on domain and hosting for just to fail because I didnt have the proper tools or the right knowledge for good keyword research.)

Last but not least Ba_laz you stated that I should use trials or if I have money to buy traffic instead. By this do you mean that I can simply go buy keyword targeted traffic that will come to my site and have killer success with making money without even dealing with the SEO and competitional side of internet marketing? And how much money would we be talking about to get 100 dollars a day from a fresh website with good content and good keyword or words? Can I keep buying the same traffic or do I have to switch traffic outlets to keep getting great keyword targeted traffic. Also if buying traffic is very simple and only costs money to get that great golden keyword targeted traffic why are ppl even bothering trying to rank on google with things such as SEO and things like on and offline page ranking and authority links and backlinks because these are what seems to kill all my keyword Ideas at the moment. Everytime I do keyword research I think I got something and then go to check the compition and and torn apart when I see that some of the page ranks are 1 or 0 for top 10 competition but the backlinks are in the millions and the sites look well established as if they have been there for years. And by that I mean the sites look like they would be really hard to outrank with a niche site of 5 or less pages targeting highly trafficed keywords like my idea above. I have saved quite a lump sum of money up to get this online site up and start making at least $100 a day so that I can live my dream working from home like I have wanted to do since highschool. My mind is stuck on niche sites of 5 or less pages of content but really Im willing to switch my train of thought I just want to know are there faster more profitable ways I could make 100 a day without having to do all this competition and backlinks and outranking ppl who know more than me in the internet marketing world. Like I said money is at my disposal for once in my life and I wanna do the right thing with it and try not to waste any if possible at all Im willing to do whatever it takes I just need pointed in the right direction. Thanks again for the replies and cannot wait to hear back from you guys.

All my knowledge so far has come from you guys and I thank you for that u truely have opened my eyes and changed how I have seen the world ever since and I still carry that with me. So thank you again.