I don't want to discourage you, but I have had
http://www.ratedabooty.com up for almost two years and have not made enough money to pay for the bandwidth used. Traffic is hard to get because mostlink lists will not list voting sites - ask Greenguy. Another problem that you have, people just don't post pictures to these sites. Therefore, you are going to have to purchase your content or use sponsor provided content. If you do use sponsor content, you have got to have there banner on the same page with their content. I do not believe that your script is capable of handling this without much modifications.
IMO, if you are in this as a hobby and want to spent a couple of hundred a month on your hobby have fun. If you want to devote the time to earning money, submit galleries and free sites.