Approve user registration before payment

Hi,

I am using the latest version of s2Member[free] on my localhost.

Scenario I want :

1.) The user creates an account.

2.) Administrator approves/disapproves it.

3.) User is then notified possibly by an email for the same.

4.) If the user is approved he/she will have to make a payment to take full usage of the website.

I understand that making an account before a payment is not straightforward possible.
I viewed this topic http://www.s2member.com/forums/topic/registration-before-payment/ and I understand that I can allow free registrations and make the new users level0, which won’t allow them to do anything(is it possible?) .
Now after I approve them maybe they can get to level1 and access to paypal payment button and after making the payment they become level2 and can do lots of other stuff on the website.

Are all these scenarios possible using s2Member[free] plugin? If yes, where do I start. If no, would you like to sponsor me a pro version? :P

Thanks in advance.

Some rays of light to my darkness filled mind will be very helpful.