We are looking to start a business for a social networking website, similar to Facebook/Myspace. We want to get an idea of how much it would cost to get the website design, hosting, and any other costs associated with running an online company. Thank you.

not a whole lot,,,
$100-120 for hosting service per year
free-$250 for 'Facebook/Myspace' script, depending on what you website you want to look like, one time fee
$$$$-lot of money for advertising…your biggest expense
trust me that's about it.