How to Make WoW Gold with Low Level Crafted Items

This question is impossible to answer because each server is entirely different. You can get a feel for what sells well on your server by monitoring the auction house (AH) for pricing trends. The easiest way to accomplish this is through the add-on, Auctioneer. Auctioneer allows you to do a quick "get all" scan of all items in the AH and retains and calculates that data to show you the historical pricing for any individual item. You can download Auctioneer here . A quick look at the configuration will show you which options you'll need to track pricing.

Should I have two crafting professions or one gathering and one crafting?

Again, this will depend upon your server. If materials (mats) prices are low, you can have two crafting professions and still make plenty of gold even if you are buying mats in order to craft. If mats prices are high, you'll most likely want a companion gathering profession for your crafting profession to save on mats costs and to increase your WoW gold profits. Choose herbalism if you plan to have inscription or alchemy as your crafting profession; choose skinning if you plan to be a tailor or leatherworker; and choose mining if you plan to be a jewelcrafter, blacksmith or engineer.

One note particularly about skinning: since both herbalism and mining now grant experience points with the Cataclysm expansion, these two professions have become the new favorites for leveling characters. This leaves a dearth of skinners, which means it could be a profitable gathering profession even if your crafting profession isn't compatible. Check low level leather prices on the AH to see if you should utilize this profession for earning even more gold in World of Warcraft.

What items should I craft for maximum profit with my crafting profession?

I hate sounding like a broken record, but for some professions this will depend upon the server. Alchemy and inscription in particular, as the needs on servers vary based upon the general style of play (PvP, PvE, RP?) and upon what other crafters are already supplying. Enchanters will also need to figure out what sells best based on the type of server, although you can make a fair amount of gold simply by buying cheap uncommon gear, disenchanting it, and selling the resulting enchanting mats.

However, for the following professions the items listed are almost always going to earn you WoW gold. You won't get rich off of them (unless you are very patient) but sales should be brisk and you'll most definitely see some gold profits rolling in.

Jewelcrafting: woven copper ring , heavy silver ring , solid bronze ring
Engineering: aquadynamic fish attractor, scopes (any), mechanical squirrel box
Tailoring: spidersilk boots , woolen boots , double-stitched woolen shoulders
Blacksmithing: pearl handled dagger , bronze axe , bronze battle axe
Leatherworking: armor kit (any), toughened leather armor , Hillman's leather gloves

Note that as you gain levels, you'll gain more options for crafted items. Every time you learn a new item, check the AH to see if it is profitable for you to craft it. You may luck out and find a completely untapped market and really start bringing the gold in. Good luck!