Heyas DK,
Actually, the biggest requirement for being a DE is good political skills.
There are actually hour requirements, but they are pretty minimal if you've been a professional pilot any (although I have known DEs who never flew for hire). Depending on the designation (PVT, IR, COM, ATP), from what I remember they start around 3000 TT, with 2000 PIC and 1500 or so dual given and go up with the more advanced designation. But that's the easy part. One of the requirements is that you have a proven record of leadership and service to the aviation community at large where you are.
To apply, you go to your local FSDO, and let them know. Then, if you get selected, you take the written test. If you pass, you go into BIG pool of applicants for one or two years. When your local FSDO needs a DE, they go to this pool, and pull a name out. It's not first come first served, or even by quals or test scores. The FSDO looks at the list and picks the person they want.
To get picked you really have to make a name for yourself, in a good way, with the local feds. It's a long, long road, especially for the run of the mill designations, like PVT or IR in airplanes. But you have to start somewhere, so have your buddy goto the FSDO and sign up to be a Aviation Safety Counsellor. Its not a bad gig (no pay involved), but it gets you known around the FSDO. Volunteering to do the WINGS programs the FSDO puts on also isn't a bad deal either.
If someone is looking for some "extra cash", forget it. Its a big deal.
Nu