Say I wanna set up a site like this
 

Hi
If i wanted to set up a site like HornyLiveTeens.com how would i go about it?

(obv i dont mean how to buy a domain etc. I mean how do you get links to the galleries? Are there any rss feeds for this kinda stuff??)

The example is just the first one i found on this forum.

You just buy a domain on godaddy and leave it empty? :error

You have to point the nameservers to match the ones designed for that exact purpose. I know Sedo has them and you can make money off of it.