yeah i have been reading as many threads here that seem relevant.
i am a complete noob when it comes to towing bikes so i dont even know were to start
i was also looking into the 5x8s from lowes or harborfreight with 12" wheels
and then installing wheel chocks
i see a lot of people using set ups like that how well do they work
the closest track to me is 300 miles away
First thing you need to do is consider what all you want to use the trailer for (besides a bike ... and how many bikes, etc.), what you have to tow it with, and how often you will actually use it. If you tow a lot, or heavy things, then the suggestions here are good starts.
If you use it occassionally, and can put up with the "not perfect" parts of the options, then a cheaper/smaller trailer works great and is easier to store around the house.
I have a single-rail homemade unit with 8" wheels that works great and has gone very long distances (just keep the bearings lubed and don't over load it).
I also have a Lowes 5x8 untility trailer (mesh floor variant) I got for around $600. Decent trailer, but not great. It flexes a lot and the mesh on the floor has almost no strength ... yet I've trailered bikes many places and it is light enough to work behind my Ford Contour. This spring I had 2 VFR's on it from Ann Arbor, MI to Marrietta, OH and we travelled at about 75mph the whole way. And I just trailered 1 VFR from MI to Syracuse, NY. It worked fine in both cases ... even with the 12" wheels.
If you get the lightweight 5x8, an easy way to load the bikes is to make up a floor with chocks attached that you can put in when needed. I have a 4x8 sheet of plywood with 2 chocks mounted (one about 6" in front of the other so the handle bars don't bang). This provides a secure floor to stand on and distribute tire loads (lined the tires up to sit on the cross bars), and can be removed and stored against a wall in the garage.
Not perfect, but works, was cost effective, and I've used it for many other things. Eventually, when I get my tow vehicle sorted out, I might get a nice enclosed trailer, but I can wait.