what happens if you dont have a character when you rebirth in diablo 3?

It's been paragon 500 before a gift drops and paragon 700 before I get an ancient weapon with the right rolls, and forget about getting jewelry with right rolls.

I REALLY REALLY HATE the gear I need not dropping and that is heavily outweighs finally getting that piece of gear. On nonseason, casuals (couple hours a day) can run with elite (no life) players just fine. The difference between casual and elite on season is more extreme. I only play a couple hours a day and it would take most of two to three weeks before I could run high content. I can still run 100+ grifts in group or 90+ solo easily while people are spending multiple weeks getting there on season.

Hard to give up g100 augments, 2600 paragon, and gems to 110. I don't particularly want to find loot, I just want to log in and kill. I have all the gear I want, I don't have to be upset rng gave me a crap weapon or kadala won't share the love with whatever I need. I already have all builds ready to go, all meta group roles created.

What happens if you dont have a character when you rebirth in diablo 3?