Unless your market has special rules, the eviction process is the same.

Bump them up close to market rate, but consider keeping it 5-10% below market as an incentive for them staying. 

For our clients, we separate repairs into catergories: 1) Health & Saftey - highest priority to avoid lawsuits2) Property Preservation - don't want a $500 water leak repair to become a $5k repair later3) Government Required - for city & S8 inspections4) Marketing Negative Impact - who wants to rent a "purple" house?

We also try to note everything wrong that is readily visible and then categorize each issue as:1) Health & Safety2) Property Preservation3) Marketing Negative Impact4) MiscellaneousThis can help owners make better decisions on which repairs to prioritize, especially if they have a limited budget.

Will the market continue to slightly favorite seller's in Montgomery?

Is this a market better suited for single family LTR or mulitfamily?

Can I also charge him rent till I find a suitable tenant ( I intend to aggressively market the unit)?

I concur with @John Underwood's logic and agree with @Kevin Lefeuvre that Airbnb's solution works better (at least in my market).

How much money do I need , what licenses , where to look for off market deals?

My markets are North ATL, Greenville, SC & Spartanburg, SC.