And having listened to so many podcasts, read so many blogs, and having come to understand that almost all of the successful people (with a few exceptions) do their own marketing, this is where I decided to put my accumulated wealth of $3,500 (which took me about 4-5 months to save - I don't make a lot). 

If you already have one, you just accumulate a consultation fee, which can be deducted from the next closing that you bring him.

Wondering if that is enough time to accumulate a portfolio of investment properties that will generate between $50k-$100k per year of income to (help) pay for may daughter's grad school (student loan debt is anathema to me), and then continue to augment our pension and stock portfolio throughout retirement and finally leave as inheritance.

If the borrower does not pay and the lender has to foreclose, then the lender wants to be able to recover the lost interest payments, the loan principal, accumulated property taxes, property insurance premiums, utility bills and the legal and other costs associated with the foreclosure process.