I wish to start my hosting business. I want to know where and how is best to start it. I mean where to rent a dedicated or should i start as a reseller?

As you are new to this business and starting it now, I will suggest you to start with a Reseller package with the help of good reseller provider by doing home-work on the major search engines.

The very first thing I would suggest is to write up a business plan.

It is a good idea that start as a reseller under a good company, then doing more business you can move to dedicated server.

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I also would recommend that you first start off with a Reseller web hosting account to learn all the tricks of selling hosting.