I'll add some of my advices as well:
1) Don't forget about collecting your visitors for future repetetive use (Twitter allows adult, Facebook can be tricked for a while, emails..)
2) You can maintain huge amount of websites if you build them to profitable state one by one and then hire someone to take care of the content
3) Secure your sites. Monitor your bandwidth, CPU use, logs etc. Especially on VPS+
4) Hosted content ranks better than embed
5) More than 50 words description even below tube video description do wonders
6) Don't buy low quality, cheap backlinks
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