" Is it still possible to experiment or should I just wait until I'm rolling in dough and know a ton?"

It depends on whether you have already have the electrical skills, mechanical skills, tools and desire to make your own LED lights. Parts can be bought very inexpensively from Chinese Ebay stores.

Sellers of commercial LED plant lights often lie about the power consumption and wavelengths of their LED plant lights. You can avoid this problem by building your own.

Some people have posted pictures of their DIY LED plant lights in this forum. I suggest that you look at them.

A $20 Lowe's cfl rig will get you 75% of the way there. Start simple

Thanks for the tips y'all! Aruz I have only the desire but nothing else (yet) I'd like to though! Especially if I can do it without burning down my house which is concern #1 lol