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In basic terms to start a site you:
Buy the domain
Buy the hosting
Post content
Promote
But obviously it's not that easy, you have to research into what you're going to base your site on etc etc so a lot of time is spent reading and looking into different niches. There's a few main genres of adult site you can make, a blog, a tube site or a forum. Each of these genres have different ways for content. For a tube site you can either host videos on your server (Not recommended as it costs a lot) or you can embedd from other sites.
If you invest a lot of money and have your own studio or your own content then you'll have to host it yourself, but yeah, very expensive. I'm no professional so I can only answer the easiest of questions.
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