What's the best way to do this? I did a search, and see people talking about a "wet method" but can't find any step by step process for it?
HERE is a link to a good tutorial.
Does water and soap work the best..what ratio of soap to water mix should one use?
Soap isn't necessary; but, if you do use it, don't put more than about 5-10 drops/pint, or so.
Any more than that, and you run the risk of the soap causing the vinyl to not stick.
How much water to apply? how long until it dries?
Apply liberally, but be careful not to get it on the paper backing before you remove it, or it will deteriorate, and cause you a bunch of frustration.
Drying isn't a real issue because you will be removing the application tape after squeezing the water out from under the graphic.
Do you squeegee all the water out the sides?
Yes.
Start at the middle, and squeegee toward the edges.
The goal is to remove all the water, without leaving bubbles anywhere.