Wow,
you are a rare breed - an
SEO who isn't out there taking advantage of their own skills for their own benefit.
My advice would be to get a few projects off the ground and go with the ones that work. Keep them as low maintenance as possible and grow your online real estate - once you have that the potential avenues of profit grow nicely.
I took this approach and I think I've got 6 or 7 revenue streams which actually work quite nicely now. Some will inevitably lag behind and do nothing so its always better to spread bet. From my experience, this is often quicker and less costly than doing all the risk anaylsis and planning for one big project, and in today's economic climate its much safer, since if one market goes belly up you still have money coming in.
niche recruitment is a good one to go for. A highly visible website will bring in both customers and CVs and you can make a lot of money without putting in long hours once your running. I have friends who make £50K ($100K) PA on a four hour week doing this - put a full week in and you can do very well.
As you're probably aware the Hip Hop market is very competitive - I researched it for a new customer only last week - maybe 6-9 months to get on the front page of google.co.uk for 'hip hop'. So, I'd work on this while hunting easier prey at the same time.
best of Luck!