Never actually did it, but how would one set up his domain where you can get profit from clicks with the Google ads which run on your page or have different company's advertise on your page?
Well, you could grab a site within an a frame, and place some Google ads, or copy paste from somewhere, however don't expect too much results.
Blogs are getting more traffic than starte standard sites.
Still unless you have a way to get many hundreds of sites and automate stuff I don't think it's too much of a business idea.