how can i start a domain selling and web hosting buisness like this from home.

do i have to buy domains to be able to sell them and how do i get a license to sell domains...and the most important thing if i start my own web hosting buisness how many servers would i need...etc

Mmmmm..... sounds like you are really starting from scratch, and I would recommend you get a bit more experience with the domain/hosting environment before selling to others as you will be called on to support problems, and you want to be able to communicate with both your clients and your suppliers.

If you are trying to go for the 'cheap and cheerful' market, then I'd caution against it as there are a lot of players out there who can provide very cheap hosting. To make a few bucks, you are going to have to charge more, so what is the advantage to them using you instead of another service?

In practice, it is very easy.

1. Buy a cheap 'reseller' hosting account.

There are many 'reseller' packages available from different places (avoid digitalvisionhosting.com as my experience has been they are too unreliable). These usually allow you to host multiple domains for a flat monthly/annual fee. For example if you have a 25 domain hosting package for $200 a year, then each domain will be costing you $8 a year (Whether there are actually any domains being hosted or not). You can then sell individual domain hosting for whatever you think you can get, and the difference will be your gross profit.