I'm a little late to the party.
Any type of lean beef will work, but for ease, leanness, and economy, I highly recommend whole eye of round (they avg. 6 to 7 lbs ea) or ask your butcher to cut you off a thick piece of top round (aka inside round), both very lean and are single muscle (no internal connective tissue to deal with).
Remove any external fat. Place meat in freezer 20 to 40 minutes to get a firm crust on the outside for ease of slicing. With a scimitar or carving knife, cut slices about 2 cm thick (3/16 in.). Slice going with grain of meat.
Marinate 1 to 2 days. I have tried many different homemade recipes, sweet, teriyaki, BBQ, etc, but traditional style has always been my favorite.
1 1/2 cups of water, 1/2 cup soy sauce, 2 Tbsp garlic powder, 2 Tbsp onion powder, 2 Tbsp liquid smoke, 1 Tbsp brown sugar, 1 t. salt, 1 t. MSG, 1/2 t. cayenne pepper. Marinate refrigerated.
I have made hundreds of lbs of jerky over the years from moose, caribou, venison, and beef, I usually do pretty big batches at a time. I have found that the easiest and quickest way to dehydrate it is in an oven. Line foil on the bottom of an oven but DO NOT COVER THE VENT SLOTS OR HOLES, assuming it is a gas oven. Hang jerky slices from oven rack by running a toothpick though the ends of 2 pieces of meat at a time, put a little space between them, then lay toothpick crosswise on over rack. A home oven will usually hold up to 15 lbs of jerky this way (using two racks).
Set oven on low, prop the top of the oven door open slightly to let humidity escape. Jerky is done when you doesn't quite break when you bend it completely.