Hot for teacher, how do I act on it?

Visit him in his office hours and have casual conversations with him until the semester ends. After the semester, be sure not to register for any of his classes and continue to see him in his office hours next semester. Then when you are no longer his student, the pressure is off and you can have deeper personal conversations with him.

You've developed a crush for your teacher. Normally, I would say that's not such a bad thing. You talk with him outside of class and get to know him. Make sure to let things develop outside the classroom. . . However. You've informed me that it's not an entirely pure attraction. . . You have to put that in check. If all you want this guy for is a sexual encounter, then it's not a healthy thing. You have to step back and think about what you're attracted to first. I would advise NOT to pursue anything that just leads to sex. Get to know him at a personal level first. . . Personality, beliefs, quarks. . . Then decide if you want to be with him.

If you cannot get over this lust. . . Then walk away. Not only is it unhealthy for you, it's unhealthy for him, and for his career. Because of the tension of what he does and what you are to him (student to teacher) This would be hard enough. . . But with those intentions. . . It's near impossible

Hmm, that's an interesting/sticky situation you got there. It is highly probably that he would reject you purely mentally purely on the grounds that you are his student. Aside from that, he seems fair game. But you are going to need to be very very careful about how you approach this one if you want to pursue it. As you probably know already, he is going to find the idea of dating his student very uncomfortable.
good luck and let us know how it goes if you want to try anything =)

Well, if you REALLY REALLY wanna:
Get him aware of you. Try to be more into his non class life. Touch on the hand as you drop off papers or ask a question. Creating close proximity, place him between you and the door/exit.
Maybe as you walk away touch a shoulder and drag/graze your hand as you walk past to said door/exit and end with a wave
Visually stimulate him: lollipops and popsicles are always suggestive.

Do not do anything. If things go wrong (which they most likely will), your Professor could loose his teaching license. You could get implicated. All together it is not a good idea. Remember, Professor is a position of authority and you are his student -- do not do anything. It is far too risky. If you simply cannot stop thinking about this Professor, the best thing to do is withdraw/drop his class and pick-it-up later with another Professor. It is likely you are not the only female student who is attracted to him - and you probably won't be the last. You may just be really attracted to a male authority figure (I am guessing this is what is surfacing at your subconscious), furthermore you are probably aware that this situation has 'risk' written all over it -- which makes it sort of attractive & fun. In the longterm, it's just not a good idea.