[Solmu]

1. Is this possible? Or am I just delusional?

Ambitious, but perfectly possible.

3. Is this a difficult process or is it actually doable? If it is doable- or will it cost me my life savings?

It's not difficult as such, and not so expensive as to cost your life savings (unless your life savings don't amount to much), but it is a multi-step process and it does involve sinking money that you may never see back (if the design doesn't sell).

All in all though, there's no reason not to pursue it.