There are no real qualifications, regardless of what anyone tells you. Fashion models need to be tall and photogenic. End of story. Modeling schools cannot teach you how to be either one of these things. If you get in with a reputable agency, they will teach you what you need to know. How do you get into an agency?
You need a portfolio, but photos shouldn't cost you $1,000. It helps to call the agency and get a list of professional photographers in your area. Reputable agencies generally have "open calls" where models can attend with portfolios in hand. These "open calls" are not late at night or on the weekends. Modeling agencies are like any other business and they keep normal hours.