Like Scott_H said, init is the default constructor. All objects support init. If you want to initialize something with some data, however, you would usually called something like:
[[MyObject alloc] initWithString:@"Moo" lifespan:4];
NSTimers don't lock up your app, like sleep(int) would. You can also specify if the timer repeats.
[NSThread sleepUntilDate:[NSDate dateWithTimeIntervalSinceNow:5]];
Will lock up the current thread for 5 seconds, then proceed to the next line.