What supplies will be needed?:
For supplies pretty much what is in this video explains it.. http://www.youtube.com/watch?v=-vUqYf5fThk
That is only for the tank set up though. You will also need food to condition your bettas, lots of people use bloodworms and pellets. I believe there could be other things as well but they would have to tell you since that is the only ones I know for that.
You will also need a brine shrimp hatchery for the baby brine shrimp when it comes time to feeding the fry. I have gone by what this video says and It hasent failed me yet! http://www.youtube.com/watch?v=Y8sNx9zTOnQ
Other things to use for the fry are micro worms but you would most likly have to buy the culture for that. If you dont want to do that you can always go with the egg yolk although it can be extreamly messy at times.
Are there any special tank preparations I should have?:
Pretty much what the tank setup video says. Although I would recormend more plants than that. I have heard from other breeders that it helps the female a lot more if there are more plants.
How many bettas should I have? 1 male and 1 female, or more females?:
You only need one male and one female :)
What tanks should those bettas go in?
They should go into different tanks during the conditioning. What I am doing is keeping my male in the spawning tank during the conditioning, I feel he will claim the tank as his and get excited when he finds that a female is around. (It happened with a pair I have that wasnt meant to spawn and didnt.. I only have the girl floating in there for a half hour during tank cleaning and the male got super excited hehe) Others more expirenced may have a different opinion on that though.
How should I introduce the two mating partners and how long will it approximately take?
There is another video to explain this much better than I could lol
And what type of betta you would recommend starting with and where should I purchase it?
I would recremend a halfmoon or plaket since thoes are what I have been seeing most often being asked for. I have also noticed that a lot of people go for marble halfmoons but it all depends on what you like in bettas really. Theres hundreds of betta lovers out there, there will be some that love the same type of bettas as you :) The best place I've seen to get extra good quality bettas are on aquabid.com an afordable breeder that I have seen on this forum is chard56. Bettas on aquabid can get costly.. but he has decent prices for extreamly beautiful bettas and shipping is only 10 for poriorty so that isnt so bad compared to other prices I've seen.
How much money should I have before starting this?
Honestly, I would say as much as you can save up.. I have spent over 40 right now on my bettas and I'm still spending more! A heater for your tank alone can be around 20-30 depending on the quality you want. live plants I know cost me around 20 and I still need to get more for my tank. So that is 50 right there.. It isnt exactly a cheap hobby, a rewarding one yes but not cheap :) Now Unless you go with mostly fake plants and then have a couple live floating one's could save some money but you also have to remember food.. and conditioner for the water ect.. Like an actual aquarium.
And anything else you would recommend.
Pretty much just watch and ask questions from other breeders on here like I am doing.. get their opinions on how they are breeding their bettas and learn what you think would be best. Be EXTREAMLY paticent. Dont be afraid to ask questions.. because there is someone here that will be able to answer! :) Hope I was able to help a little. More expirence breeders could probably give more advice than I could.
Another thing is since I can't have all those bettas forever, how would you reccomend finding a place to sell the remaining ones that don't have homes.
You can try seeing if any local fish stores or pet stores will want them, or try to sell them on here and aquabid.com. Good luck!