KK
Yes, quite acheiveable. Most ML instructors work as one man band out a farm field etc, yes they do own their own aircraft - I understand that's how it has to work, or if some has their own aircaraft the ML Instructor can teach on it. They appear to charge between £60 & £70 an hour for this. I know one ML Instructor who told me he makes £95 an hout doing instruction on a Thruster MLA. He owns and operates a Beech Baron so the money must come from somewhere. I didn't believe him either until I did some reseach on the BMAA website and found out it was true.
I've been looking at the Czech built E97 Eurostar (
http://www.cosmikaviation.co.uk/) which goes for £44k inc. vat and it cruises at 90 kts and burns 11 litres of MOGAS an hour. Seems a very nice little trainer too; equally up to the ubiquitous PA38 or the C150, but it burns a tenner of fuel per hour instead of £26/hour! Those who have them offer TL's in them at £99/hour - go figure as they say.