I understand your situation - I was almost in exactly the same boat, virtually ...
It's very difficult ... You Do have to follow your heart BUT you have to be EXTREMELY CAUTIOUS, too !!!! You need to get to know him by talking to him (you can buy prepaid phone cards very cheaply - I'm in France and the girl I 'knew' is in The US) - You need to see what he's like under all aspects - if he just makes you laugh ALL the time then it's not necessarily good ! You need to find out what makes him tick, and you MUST NOT let yourself IDOLIZE HIM !!! And you need to find out WHY you like him so much / AND What makes YOU tick ? It's all too easy to fill in the gaps we don't know about the other person ourselves ... And this will always lead to BIG PROBLEMS !!!
You can also use Yahoo to communicate (voice stuff and Webcam ) - I would advise this ! ;^)
If you are going to meet him, you need to do so in a public place, away from your home, but in a place that YOU know.
Wait before you let him into your house ... Some people have a strange why of changing ...
But then again, he's probably just as lonely and sincere as you ... In that case, seize the opportunity !!!!
Good luck to all three of you ;^)