I keep my hatchling in a shoebox...
The breeder said it should be able to live in there for up to a year considering it has a normal growth rate, then I will be moving it in to a medium sized cage, then an adult cage after that.
You don't have to mist twice a day, or every day for that matter... it will really depend on your cage and how well it holds humidity. With my hatchling I just keep the paper towel damp. It dries out after about 2 days and I dampen it again. I also keep a bowl of water available at all times.
The most important thing about purchasing a chondro is to buy one from someone who knows what they are doing. It is a good idea to find a breeder who has produced the animals that they have offered for sale. The hatchlings should be offered unsexed and feeding with no problems whatsoever. Most often they will be eating f/t pinky mice.
The breeder should also be able to provide photos of both the sire and dam of the hatchlings available, and may possibly have even more lineage info.
http://moreliaviridis.yuku.com/bmoreliaviridis is a good resource for both information and classified ads published by reputable breeders.