I am starting the legal process as we speak and depending how many more we can make this a class action law suit. 

For a smaller piece like that, not sure how creative you can get, but it all depends on what it's zoning is, access, proximity to other things, etc.  

depending on how backed up the county is it can e take a few months for court date. in essex county it took my mother in law about 8 months or so for the full process. she had an attorney, not sure if that sped anything up

A lot depends on your entry price and instant equity. 

It will depend on the amount of your downpayment/LTV at funding. 

Depending on your market you may need to buy in our out of your state to hit your goals.If you plan on getting financing you need to understand what programs offer the best options for you and your current employment or income position. 

Collecting rents is an art and a science.What you should depends on where they are with their late rents.

Depends on if you have panels, crazy layouts, etc.

Once you do that get several bids...bids will vary considerably.  

Yes, generally speaking, depending on tenant class, it's best not to get too friendly with your tenants.