As far as "needs" are concerned, I think you will be just fine. It is only when your sites become very popular (and use up a lot of bandwidth) that "shared" hosting schemes, like the ones we've been discussing, become impractical.
And, yes, it is a small enough amount for you to perhaps chalk it up to experience, if things really didn't work out (this is unlikely 'though!). As for your concerns about the hosting co. holding on to something, have no fear - if you have a site that takes off, and you fancy a change of host, it can all be done instantly and remotely by you... and all you do is update your nameservers - which takes seconds to do.
Hostgators' affiliate program is very attractive. In fact, I am looking at doing something with this right now, but let me quickly give you the link for their affiliate program, just to give you an insight in to what hosting co's are capable of paying, or are amenable to pay!
http://www.hostgator.com/affiliates
As you can see, there's a hefty $2625 up for grabs IF you can get 21 people to sign up with them in a month.. Do that each month and it's a nice income, and they will still pay it even if customers later decide to cancel! wow.