Web Dev needs money... Adsense and/or CPA?

Hello everyone. New to these forums, however not new to research. I guess I just want a simple answer and maybe a kick in the behind to get started?

I'm broke, coming up on my last couple $$$. And jobless... I host my own sites, static IP, and some hardware. Got a nice CentOS virtual running I'll use as my webserver.

Now, about the money making part. I've been reading for about CPA/CPC for months now (this isn't my first time researching either), and just can't seem to convince myself this CPA CPC thing will work out.

This is how I see any of this working:

Scenario 1: After had done the proper keyword research(which still seems vague after months of reading), I embark to create my content around that keyword. It will be found in the title of the page, ultimately the domain as well if available. Quality Content. Backlinks. This would be done in WP.

Questions about scenario 1: So wait... set it and forget it? Get one domain per product? How many pages do I have for this kind of site that is simply showcasing the product for the main reason linking to the product's main site for a sale.

Scenario 2: I'd do this, just to give myself something to do. I'm home 24/7 now being out of work. Set up on main site with a bunch of written reviews/articles for numerous amounts of CPA products. Write good content on each product (seems like a look but I'm good about this sort of stuff). Each product would have it's own page, all the seo would be there. Etc.

Questions about scenario 2: So.... That seems easily done. I could have reviews on 150-200 products in no time on my own site.

What methods worked for you? How complex is your one-page promotional site. How complex is your multi-page promotional site?

Also, is the only real way of obtaining traffic VIA backlinks? Paid services? Advice on traffic as well would be good.

My current understanding is: Pinpoint the keyword, and the niche. Get some backlinks going. Maybe add to some directories?

Which route should I go? Adsense? CPA? Both?

Amazon or ClickBank? Or.... Both?

Hit me up with your info

Let's talk, I can help

I need some new projects with new people...

Drop me a PM about what langages you can use PERFECTLY.

I have some projects which requires high PHP / CURL / SQL skills.

Funky,

Personally I feel that you're better off having larger sites with more pages compared to the smaller micro-niche sites. The micro niche used to work/rank much easier awhile ago but its becoming tougher. Its still possible, but I'd stick to the larger sites.

As far as driving traffic - obviously you want to make sure your on page SEO is okay, then yes backlinks are still a main component to ranking your site. As you mentioned, paid traffic works as well, but it can get costly. Forum signatures and question/answer sites are good ways to get free traffic.

This is all the white hat stuff. Search the site and there's tons of greyhat and blackhat methods as well.