My general plan - any advice welcome

I'm making this post partly because I feel by writing all of this out, it will help me get clear on what I know and what I'm still confused about.
It would also be great to get any feedback on this plan of action.
Hopefully, my very basic layout of what I've learned thus far will be useful to others just getting started as well.

I've been slowly learning about IM for the last couple of months. I've learned how to use WordPress, set up a squeeze page and connect it with an auto responder.

One of the major ideas that I've internalized is the value of building a list of people who are interested in a niche and then marketing to that list. This can be done by setting up a squeeze page with something like OptimizePress, offering a free gift like an e-book and then driving traffic to the squeeze page through one of many methods (forum marketing, writing articles, etc).
One can then send out regular messages to their list with an auto responder and throw in some affiliate links to related products in some of the messages in order to earn commissions.

This is my basic understanding of one possible method. I posted a thread recently asking for some advice about my e-book that I just finished writing and got a lot of good feedback. I had created a squeeze page and was about to start trying to drive traffic to it. I've realized however that the niche I chose is one that I'm interested in somewhat but that I am not an expert in and would rather choose a related but different niche.

So I want to start again and make a few changes. Perhaps I'll use that previous e-book and squeeze page at a later date.

As an example, let's say my new niche is learning how to play and improve at tennis.

1. I'll start learning as much as possible about the subject by reading blogs, articles, books, etc, about the topic as well as engaging in improving my own tennis playing.

2. I'll set up my own blog and create and/or outsource well written, valuable content regularly on the blog.

3. I'll create an opt-in form on the blog itself OR I'll create a separate squeeze page that is connected in some way to the blog in order to start building a list. I'll create a free report/e-book of some kind as incentive. (I'd love some advice on what people think is better in this case and if a separate squeeze page is better, how it should be connected to the blog).

4. I'll write a bunch of newsletter articles in advance so that when I start getting subscribers, there will be content ready to go to send out through my auto responder.

5. I'll try to create an audience for the blog by driving traffic to it.
-I can participate in forums about the topic, being helpful and answering questions and have a link in my signature.
-I can take some of the articles I've written/outsourced on my blog and submit them to article directories.
-I can use some other methods that perhaps someone could fill me in on

6. I'll add affilate links on my site and in my newsletters for tennis related products, hopefully earning commissions.

7. I'll continue to create valuable content and build my readership, all the while continuing to learn about my topic and about Internet Marketing.

8 ... some further things I can do once this up and rolling that I don't know about yet.

9. Perhaps create my own product at some point.

How does this sound? Any advice/input about any of the steps or the idea as a whole?
Assuming I have 5 or more hours that I can dedicate every day to this, how soon might I be able to generate even a little bit of income?
Any tips on what actions are the most important to take right now?

Thanks so much!

Based on this very short example of my writing, do you think that I should create my own content, outsource or both?