i've done this with 3 of my Fords. You will need the OEM rim, sensor, mounting strap, and of course the tire. Tire rotation - yes very easy with one jack, also i'm doing a cross over rotation. With 50k on the tires they are still over %60, they will dry rot before they wear out. Just make sure there is room for a full size tire. I also have to reprogram the tires every rotation.
First one the '04 ex JY rim for $100, plus the extra tire, $200 each; sensor was a stem mount fleabay for $20.
The ST . . (Chrome 18") rim for $300, tire $75 used, sensor $25, mounting kit $50.
For the Merc that has (brushed chrome 18") $350, tire $120, sensor $25, mounting kit $50.
I shopped Fleabay, JY, Used tire stores, dealer to piece it together. Some was very hard to find. Its about half the price of new set of 4.