Here's my take on this: I've been playing poker for just short of a year and have gone through the deposits and bustos and deposits. I agree with the idea if you could deposit $250-500 than do it. Now, if you have to do the true grind route, do as I have done. Go to a site which allows you to play $1 sng single table preferably. Fulltilt has a $1.25 turbo sng. If you have a decent understanding of Ms, Inflection Zones and fold equity than you should be alright. I have played roughly 50 of these in less than a week. My roll would flucuate up and down due to variance, but a few things will begin to occur. You'll gain greater skills through hand reading and aggression. Ultimately you get to a point where you are the King of that level and are ready to move up. When you are at 25-30 buyins head to the 5.50s or the 6 turbos on Fulltilt or Stars or Party.

I am mediocre in cash games. They can be rewarding, but I want to build my roll with out the thought of every hand I play is raising or lowering my bankroll.

I suggest that you read the guidelines on this forum and others for BANKROLL MANAGEMENT. Sit and Goes are great for building your roll. I don't believe that $50 is NOT enough to cover the event of variance at the $5.50s unless you are sure of you ability to score some initial victories. Which is bond to happen, and you want to minimize the downswings

Something that you might want to work on is summed up in the word PATIENCE. Looking back over the last year of my poker experience; my downfall has almost always been a result of lack of patience. I would come on ftr or other forums and read about individuals turning .85 into hundreds and thousands in days and weeks. Not knowing fully their story or credibility. Playing within you limit and skill level.

gl