To echo Axion, Finding a good niche is key. After that it's a case of filling your site with good, *original* content that is useful to people (easier said than done). Then you've got the whole SEO, advertising and getting your site out there to consider. Certainly, it's a good business model, but you need the time, effort, determination AND the skills above to pull it off. Best of luck
Its good idea..go ahead..find niche you feel you are good at..do it with all heart..develop quality content..get traffic and then i belive you can sell..Easier said than done..but if you have idea then start it and see..dont keep on waitin for right time..
Seems like it could work out if your able to get enough traffic, interest, and content people want. Also a great domain name.
the topic of your sites can be anything you're interested in, it'll be easier to create content. If you want to find out what other people have done - so you can learn from their experience - google "site flipping" or a similar search term. There's a lot that has been written so you'll be able to find some helpful info on: what's worked for others, the best sites to create, and how much you can earn.