Okay so here is the deal, I have the domain name picked out, approiate with want i'm wanting to build, easy to remember, easy to spell, only two words.

I have the hosting purchased for 3 years, from where I built the site, and may or not be suitable for what i'm wanting to do, but sure that it will at least be effective to get started.

My problem is i'm not tech savvy, have no useable html skills aside from being able to break up a paragraph haha.

And i'm aware that this site will be a daunting task for a developer which translates into some serious dough coming out of my pocket, and I don't have "Serious" dough. It's not going to be a simple site, it'll be very comlex indeed.

Social Networking site, focused on music only, with downloading programs, ability to customize profiles, credit card acceptibility, multiple pages, ringtone, mp3 and other various things needed to start the page the way I want.

Any suggestions on how to get this started with a local developer?

Until I read the additional notes I thought "no no no" :)

.. But if you have really strong clients and can guarantee the developer(s) 99% guarantee income when the site is up and running, and you have a written clear contract with the developer(s) it should be possible to find somebody. I'd say quite a few experienced developers have done a joint venture to either getting ripped of (so local developer=good :) or the site doesn't take off.