I'm a 2nd year hobbyist beekeeper. And its is kinda expensive. But very rewarding. I lost my first colony but moved on to buying a second colony and got my first harvest this year. 34lbs
I also gotten myself a job working part time through the summer working for a commercial beekeeper. What a wealth of knowledge. and a relationship I think will last for years.
As for cost you can buy starter kits for about a 100-150$ range that will give you your veil, hive tool, smoker and a brood chamber. But you will need another deep body and supers. Another 50-100$
And we haven't even got to extraction yet. Which will set you back a couple of hundred more dollars.
A good year with an established colony should get you about 100+ pounds of honey.
As for room I live in town, all the room you need is a place to put your hive up. The bees will travel up to 3 even 5 miles away to collect nectar.
Running just a few colonies dosen't take much work at all. Really all you need to visit the colony is about 6 times a year. I would suggest more if you are a begginer.The bulk of your work will be collecting and extracting your honey.
A swarm of bees will cost you about $70. That is my cost after shipping. A good idea is to buy a nuc from a local beekeeper. Which will probably cost about the same but you will get more bees and eggs and brood.
Ken's advice is a good point. My first year I was all on my own. This year I got lots of help from my employer. Plus I got to see the inside of about 400 colonies. So I could see bees in all states of health. It was a lot of help.
The books are a good start but they can really stress you out. You spend a lot of time wondering if all the terrible diseases you read about are happening to your bees. For the most part don't worry. The bees are pretty good at taking care of themselves. They do need help with the mite issues. The mites are a serious problem.
It is a very rewarding hobby. My goal next year is a total of 4 or 5 colonies. I have 2 currently. And hopefully 3to 4 hundred pounds of honey. These bees are gonna pay for themselves I swear.
www.Beesource.com is a great website. There are even plans to build just about everything you need If your are handy.
Hope this helps and didn't scare you off!