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Starting Over & Making Sure Library File is remote

Update:11-30Source: network consolidation
After spending some tine repairing my itunes lirary I have decided to start over and convert my FLAC files to new copies of AAC files.
My two questions are how best to clear out my existing music library (I have 2 x iphones and a ipad but none have music from the library yet) and start over.
I also want the Itunes library files to be kept within the Itunes Media folder which will be on a remote NAS and am not sure how to accomplish this after starting over.
So my plan is...
1. Clear out current Itunes music library
2.Rencode a copy of all of my FLAC files to AAC and place them on a nas. NAS\\Itunes
Thanks so much for any tips!!

The Best Answer

I have my music on a NAS, and this is what worked for me. Close itunes. Go to music> itunes and delete everything in that folder. Map a drive to a share on your NAS. Make a new folder on that share called itunes. Open itunes create a new library on your local drive. Once itunes is open go to edit> preferences> advanced make sur the top 2 check boxes are checked. Now click change and browse to your mapped itunes folder on the NAS, click select folder at bottom. Click ok. Now itunes will put everyting on your NAS. Keep the itunes xml,itdb, and itl files on your local machine, or you may have a huge performance hit, especially if there is a wireless connection invloved.