Yes, it is possible. Anything is possible if you are willing to work hard enough for it.

I suggest you read this. It's a bit out of date (it doesn't mention microstock), but the writer makes a very valid point about positioning. You'll have to position yourself well in order to be successful in this business.

Yes, it is possible. Anything is possible if you are willing to work hard enough for it.

Also:  If you live in a loft in New York, you would need a pretty large portfolio to make ends meet at this, but in some parts of the world you could live like a king if you have a respectable portfolio.

It seems that you want numbers, so I'll throw one out: An attainable goal is $1/image/month.

How many photos do you need? The answer's easy if you do the math.

As far as pulling stuff down and reposting is concerned, most people's photography improves tremendously once they begin to look at it from a professional/semi-professional point of view. For the most part, by the time an image has "died", you will have moved on to produce better things.

Also, I get the feeling that you might think you can produce a quantity of images, post them, and then sit back while the money rolls in. A nice idea, but one not grounded in reality - to be successful here you have to work, work, work, work, work!

The $1 is an average. Some shots make hundreds of dollars, some tens, and some nothing. There are people on this forum making hundreds per month, and there are those making thousands.