Knowing everything I know today
IF I was a brand new affiliate
IF I didn't know how to build a site
IF I didn't have a measely 6.95 a month for hosting
(There is hosting at that price that even includes a FREE domain...)
I would probably start a little hubpage or squidoo lens - Or possibly use one of the other sites in this post that gets high search rankings.
Get HIGH in Google with these Social Marketing Sites
I would start off with one of those free sites to et the hang of writing copy, adding affiliate links and marketing. Also those sites could get you higher ranking and more traffic than starting off with a new virgin domain.
Then once I was comfortable with the niche and saw some traffic and/or sales coming in, I'd pay to launch my own site and link my hub or lens to it
to give the new site an SEO boost.
Again that is a VERY conservative starting point, only for someone with no money and no web skills at all. It's not the best place to start, but it's better than not starting at all.