You really don't need anything fancy, if you've got a hot air setup you've got what you need. You actually don't even need a stencil or solder paste, you can install leadless or thermal pad parts by using an iron to apply a small pillow of solder to each pad, coating with a liberal amount of GOOD paste flux, and then putting the part on while heating it with hot air. You may need to gently preheat the board a fair bit before placing the part. The real trick is to not put too much solder on the pads, especially the center pad, as that can squish out and cause shorts, or just the surface tension can keep the part from seating properly. It takes a bit of practice to get this right, but the correct amount is generally less than you think you need. With the right amount of solder, adequate flux, and a carefully heated board, the part should snap into place once the part makes contact with the molten solder.
For cleanup, an iron with a pointy tip (preferably a cartridge type, the irons that take a hollow tip like the FX-888 etc have too much thermal resistance to really make a fine tip work well) can help as it's easier to get into the inside corner where the side of the package meets the board to retouch any joints there if necessary. This is easier if the part has pads that extend up the sides a bit, although not all do.
You will want some magnification to inspect your work. A 10x Jeweler's loupe that can be had for a few bucks is great for post-soldering inspection and will remain useful no matter what fancier equipment you have access to. I do not recommend trying to solder under it though
. Some people like optivisors, which are a few bucks more, or for ~$80US you can get an okay USB microscope. These can be soldered under, although the USB microscopes often have significant latency and/or poor dynamic range plus inherently no depth perception which makes this tricky. A proper binocular optical setup with a stereo microscope, or a Mantis if you can afford it, is much better since there is no latency and you retain your depth perception.