I've already created a deafie website, so I'll just toss in my experiences here.
A website take both less and more work than people realize. Less in that it doesn't take tons of programming if you pick up the right tools. (there are a lot of programs which will deal with that for you. Check opensourcecms.com for some free tools.) You will likely need to tinker with the program to get exactly what you want, but once you choose the right tool, most things are dealt with for you.
More in that it takes a ton of work everyday just to keep things running. This site is a good example, because to keep it running, you have to moderate, and check what is going on in the threads. I am mainly talking about the social and content aspects here. To have a good website, you really need to update it regularly. And then (advertise and) wait because it takes time for the site to collect visitors and gain momentum.
My feeling is that the gaping hole is a lack of effective deaf news sources online. There are a ton of other things a deaf website can provide (and i'll eventually get around to dealing with), but I wanted to deal with that first.
To be honest, websites these days rarely earn much money. (companies are called 'dotbombs' for a reason) So its a good idea to put aside the thoughts of $$$ (at least to start with) and just try to provide the best site you can.
Thats what I'm doing. I realize this is unusual, but I'm not very selfish. I just want to share what I can and help others while I'm at it.