Fair warning! This may take you a little while to get decent gold with, as I'm by no means an expert AH player. Basically it'll get you your first couple thousand; I've done this before, just this, and made almost 3k in a week. And before you go any further, download the addons Auctioneer and Auctionator.
First, start a human, with whatever class you'd like. When you do your first couple of quests, run to the entrance of the closed mine just beyond your first few mobs; there's a rare there that drops a bag, which is very important at this point. Level them out of the starting zone; this is very important, as you're going to need a bit of starting coin. If you can stand it, go ahead and level them to 20, so that you'll be able to pick up a mount once you have the extra coin. Save everything you get, whether it's grey, white, or green; you may need to vendor the grey and white items if you start running out of bag space, which is fine. Just don't leave anything on your mobs!
Once you get to Goldshire, you'll be given a quest to fly to Stormwind. Once you get there, complete whatever quests you have, but don't fly back yet! Find a vendor and sell off any greys, whites, and soulbound greens you might have, then run your happy little human to the nearest Auction House.
Here's where it gets really
While enjoying your drink, check back on your scan. Done? Good! On to the next tab: Search. Don't let all the options here confuse you, because the only one we're using just now is "Vendor". This handy little function will scan the AH for anything that's currently up for auction at a price that's lower than what it would vendor for. Don't laugh, apparently a lot of people don't pay attention to this when they sell things off. Make sure the checkbox for "Bid" is empty, as we're going for quick bucks right now. Now, hit "Search", sort by "Buyout" to make sure you're seeing the lowest, and purchase whatever you can afford. Once you're out of money, run out to the mailbox, collect your items, then go to the nearest vendor and sell them. You might be tempted to try to auction these items; trust me, you'd rather have the vendor money for what we have planned next. Repeat this until you've bought all the items you possibly can, whether it's because you bought them all, or because the remaining items cost more than you have, even after vendoring your recent purchases.
Now that you've gotten that out of the way, start heading over to Old Town. In Old Town you'll find an inn that houses several NPCs, the most important of which you'll find on the second floor: Kendor Kabonka. Mr. Kabonka here has the dubious pleasure of being the man who sells a dozen recipes, several of which he is the only vendor of, both Alliance and Horde sides. Purchase one of each that you can afford, starting with the cheapest, making sure to keep about 5-10s on you; keep away from Westfall Stew and Cooked Crab Claw, though, as they're Bind on Pickup.
Once you've bought what you can, run back over to the AH, and open up your AH interface again. I prefer to use the "Sell" tab for this, so go ahead and choose that one. One by one, drag a recipe from your bags and put it in the little window; Auctionator will automatically check the AH for any listings. If any exist, simply hit "Create Auction", as the addon will do all the work for you, including undercutting anything that's already on the AH. If the recipe isn't there, I usually start out listing them for 40g. Continue for every recipe you picked up.
Now it's just a matter of waiting. Even if you miraculously get one sold before you finish posting, you still have to wait an hour for the gold to reach you. So log out, get some fresh air, start another toon you actually want to level, what have you. By the time you come back tomorrow, you should have a fair bit of gold waiting for you in the mail!
Additional Steps
If you have two accounts, make a character on each side, one human and one orc. Follow the aforementioned path-to-main-city portion, as well as the Vendor portion, for each. Once you get to Stormwind and Orgrimmar, respectively, go get some recipes from the Alliance vendor, and run your orc around Valley of Spirits until you run into the troll walking about with a few snakes at his feet; he sells three snakes that are Horde-only companion pets. You can swap them between the two accounts using the Neutral AH, and then sell them for twice as much on their opposite factions.
If you already have a character that's 55 or higher on another realm, you can make a death knight for your chosen class. This time when you level out of your starting area and get to your main city, you'll have a nice sum of gold to your name.
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