Snaring is the most cost effective and easiest to learn. Most ranchers with stock dogs don't like snares and want foot traps only. It's pretty late in the season to be getting started. I would get some dvds, Gary Jepson is from your neck of the woods and makes some very informative dvds. JW Crawford also makes good dvds with lots of info in them.
As far as making money, it cost a lot to make a little. Good coyote foot traps cost over $200 a dozen, a truck load of gidgets and gadgets are needed, and time, fuel, tires, oil, etc make trapping a pretty expensive hobby. You can probably save money by getting a cocaine habit. Good Luck