Not to rain on your parade but I would be wary of thinking you can get 500 much less 1,000 subscribers to pay a working wage (say, $10 a month?) unless you are in a large area, have a large following, and the fans are very, very loyal.
Plus, getting those types of subscribers takes weeks / months of promotion and marketing to them.
Also, running a Wordpress site is a lot more difficult than it looks, so, as noted above, consider Patreon as your funding stream.
Despite my obvious pessimism, I wish you the best of luck and applaud you for getting the f out of newspapers.
Absolutely do not use Patreon unless you want to give someone 5-12% of your income plus 2.9% of each transaction for a publishing platform that will be limited and you'll have no control over. Use Wordpress with the Memberpress plugin.
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