Short answer. Yes!
You'll need a couple of things to make this happen though. 1) You'll need to really enjoy photography, and 2) you need a decent camera. (I suggest something with at least 5 pixels, which most cameras now offer at a reasonable price.)
I started out selling photos back in the '60's as a freelancer, while working a regular J.O.B. (If you can call being a DJ for 30+ years a job!)
During my years of freelancing I was lucky enough to sell my pictures to several major newspapers and magazines, all three major networks (ABC, CBS and NBC), and I even shot a few weddings. Since I didn't care that much for the wedding gigs, I dropped those pretty quickly.
Nowadays with the advent of the Internet there are even more opportunities for you to sell you photography. Not only do you now have access to dozens of quality stock photo sites where you can sell your photos, you can also set up your own website to sell them.
You'll want to keep all options open as you begin to shoot photos for cash. Don't even think about specializing yet.
You can photograph kids, animals, real estate, historical sites, parades, reunions, etc. There are actually tons of ways to earn. Your choices are only limited by your own imagination.
Don't forget to put some great nighttime photographs into the mix. Nighttime street shots, fireworks, skylines, maybe the county fair, too. All have great possibilities for someone trying to build a solid income with their camera.
As far as a good camera, consider picking up a solid tripod for those long exposure photos, close ups, etc. You'll also want to make sure you've got some photo releases available in your bag at all times.
So grab your camera, brush up on your skills, and get out there and hit the highways and byways. You just never know when that “perfect” situation will arise that will give you a hot selling, money grabbing photo.
In conclusion, the more time you take to learn you camera and shooting pictures, the better you'll do in the end. One great source that I highly recommend is a ebook that walks you through all the things you need to know to get things going right from the git-go. Visit my blog Your Online Money to learn more.