Anyone can make money without a lot of capital if you have the energy to put in the work into it. A case in point, a girl bought a $7 domain, put up a site, and now makes $70,000 a month doing graphics. Another lady put up a site to sell tumbleweeds as a joke and makes $40,000 a year doing that. Monetization depends on traffic. The more traffic you have, the more money you can make. So the best advice is to concentrate on gaining traffic through good content, good visitor experience, etc, and the ads will take care of themselves.
One piece of advice on ads. The type of site is relative to how much traffic you need to make money. An entertainment site needs to make a lot more visitors and page views to create an income, then a high end electronic product niche. So something to keep in mind while deciding on a site.
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