Locate a market.3.

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

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?

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

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

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)?

Do that in your post and ask what are you missing before deep diving and looking for numbers or marketing analysis.  

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

This works if the long-term market rent received on an appraisal can support the DSCR and you are buying vacant.