Find a niche (just brainstorm anything you want, but you want there to be at least 50,ooo phrase searches per month)
Find at least 100 good keywords (download domain samurai, which is free) What's my criteria for a good keyword? I want less than 1000 sites to have the keyword in their title, I don't really care how many searches it gets.
Write 20 emails, with 3 out of every 4 being good information and the 4th being promotional. Sign up at Mailchimp(EDIT: Alexa Smith informed me that affiliate marketing is against MC's TOS, so only sell your own products until you can switch!), which is free up to 1000 subscribers. Schedule your emails to go out every 3 days after sign up
Find a good squeeze page template (they're free all over the place) and create a good freebie to give away... it could be a pdf report, an audio cd, or a video. Try to be creative with it.
Now, write 100 articles, one for each keyword. The keyword shuld be in the article title, once every 100 words, and an anchor text link in the resource box.
Install wordpress on your site (I'll get to setting up the site in a second), and schedule your articles to post 5 every day for 1 week, then one a day after that.
Each day, resubmit the articles that posted on your site (with only the title changed) to EzineArticles, Goarticles, and ArticleDashboard.
Now, I know a domain name is $10 and hosting is about $10 a month, so you need $20 to do this. Don't have it? Here's what I had to do: sell some of my stuff on Ebay. There's no listing fee if your auction starts at less than a dollar, and the final fee comes out of your price anyway. Once this starts rolling, send out a promotional blast when you have 500 subscribers.
Here's how I recommend reinvesting some of your earnings in order:
ArticleBot to mass submit articles
Aweber (I hate mailchimp, as soon as you can afford it I'd switch)
Auto Backlink Bomb
At $3000+ per month start outsourcing and double your efforts
Sorry this is long, but here's the system I use to build a site in 2 weeks:
Day 1: Find niche, 100 keywords, install WP and create freebie (3-4 hours)
Day 2: Write 10 emails, create squeeze page
Day 3: Write 10 emails, schedule all emails
Day 4: Write 15 articles, schedule all and resubmit posted
Day 5: Write 15 articles, schedule all and resubmit posted
Day 6: Write 15 articles, schedule all and resubmit posted
Day 7: Write 15 articles, schedule all and resubmit posted
Day 8: Write 15 articles, schedule all and resubmit posted
Day 9: Write 20 articles, schedule all and resubmit posted
Day 10: Write 20 articles, schedule all and resubmit posted
Then all you have to do is resubmit one article a day for 2 months, and by that time the site will have made enough to outsource articles for the next 3 months.
Sorry this was so long, I hope that it helps!
EDIT: Yes I realize this is a lot of work and that it sucks to do, but you only do it for one month! The next month, outsource half the writing and all of the submitting. The third month, outsource everything and manage it. You work hard now so you won't have to later; it's worth it.