It doesn't matter whether you are a seasoned domain professional or a complete newbie, there is always something new you can learn about monetizing your domain names. I have been involved, on and off, in the world of domain names since 1999 and it continues to be a fascinating and dynamic industry.
There are wide and varied ideas and theories about monetizing domain names and these range from simple parking, full-scale website development and everything in between. Finding the right path to follow will, to a degree, depend on your personal knowledge, skill-set and indeed temperament.
I have a degree on experience in the field of domain names but I won't pretend for a minute to be an expert. If you are looking for ideas, tips or advice then here are some very valuable resources...
DNForum
DNJournal
NamePros
And if you specialise in .co.uk domains then this forum is the place to visit...
Acorn Domains
You should be able to find all the answers to your questions at these sites. All the very best with your domain name ventures.