If the reseller has been around for at least 1 year or longer, it's a good way to start. The problem is that everything you build will be dependent on that reseller being in business and perfect backups for your clients. A good, stable reseller is a good thing. VPS is good too if it's well-managed, reliable and comes with all the goodies.

Definetely I suggest you to begin with a reseller acct so you get familiarized with how it works also it is less of liability and exclude you from administrating the vps. Once you have gotten more experience perhaps you can continue with the vps or if your business is really producing go to a server that is not so big so you don't have to do so many migration later on that are bit of a head ache and sometimes gives downtime.

I currently have a reseller account at a company (not sure if I'm going to put the name because I haven't fully read the rules yet ) and I got it for $25.00 and that included my domain name.

It's great and so far I am very happy. The two tickets I submitted were answered quickly because there's no need to worry about setting up your VPS or managing it. Also, it's great because most of the time you find a free billing system and you also don't have to worry about paying/handling cPanel licences which for me are always a hassle.

I've had VPSs before and I'd go for resellers anyday. Just my opinion.

Best regards,
David Vazquez