Record deals sound fancy, but the reality is that the record company is just renting out their studio equipment for you to use and you're taking out a loan to use it. Music companies/promoters/managers will always take a chunk out of everything you make all will also make more money than you.
Most entertainers work excessively long hours and have to travel constantly. I knew someone who would sleep around 2-4 hours and then head back on the road everyday.
It's not really a lifestyle for everyone, certainly not something many people can handle. In all honesty, I think it'd be best if you just played for small shows in your local town. Or broadcasting some shows online if you can
Most musicians won't ever get a record deal either. It's really rare for it to happen. So there's also that. Here's some more reading info on that
