Considering buying a fuel hauler. Advice

Right off hand I'd say no. First of all check what insurance would cost you. Also, starting out with no customer base you'll have to pull for other tanker companies. They'll usually give you the worst loads as far as time and money go.
Of all the different kinds of trucking for a new guy to start out with my last choice would be tankers.
Get a job driving for a good company...or a bad one for a real education...and you'll learn a lot about what you really want to do.

 

If your are set on pulling fuel tankers, look into company’s that hire power only. The company owns the trailers, but hires out the tractor and driver to service their customers.

 

You're making 30 bucks an hour with benefits? Stay where you are.

 

I can’t imagine what insurance would cost you unless you ran under someone’s hazmat authority.

 

I understand the mortgage and five kids. The only thing is, as an OO you'll have a lot of days where you won't be able to pay yourself that much...breakdowns, slow freight, weather, all kinds of things. Your income as an OO won't be dependable. ...The cost of providing insurance for you and your family has to be figured in too. Regulatory compliance is another problem, especially if you want to haul fuel. There's a blizzard of paperwork and if it's turned in late or filed incorrectly you can get hit with penalties that cost you.
It's your choice. I'll stay out of this now.
But knowing what I know about this business, if I was raising a family I'd stick with what I could count on. As a new OO about the only thing you can count on is aggravation.

 

Owner operator can be real feast and famine cycles.

 

I just watched a video about a guy doing what you want to do. Why not reach out to him and ask?