If this is your first time, it's best to get a domain and hosting from the same company, as DNS management is a pain in the arse.
The domain you want, particularly it's extension (i.e. .COM, .CO.UK, etc), will determine the majority of your traffic, as well as help with your SERP in a particular market. i.e. .COM.AU will show up really highly for me down under, but not so much for you guys, when you hit up Google.
As a rule of thumb, people go to a .COM, but good luck finding a good one that isn't being sat on by a pro Domainer.
Also think what sort of affiliate marketing you want to do.
Almost everyone seems to go with CPL stuff on a blog... There's so much more out there!!! And if you get creative, you can make some REALLY good money.
i.e. I make a lot of money out of having subs do all my dirty work by promoting at Uni campuses in the USA (if you're a uni student, PM me to get in on this as it's decent money

) and taking a small percentage off the top of their earnings.
I used to do the exact same thing here at uni, so I know it works nicely.
But yeah, you'll also want to look into submits, Cost-per-Action offers, Pay per Sale stuff like DropShipping, etc...