Is the soldering iron i have lying around for electronics going to be hot enough/strong enough to do this? Or do i need to get a torch set up?

Yes, Uwe is right - you would need a small blowtorch.  Most professional typewriter engineers use a special jig.  The typebar is removed from the machine and placed in the jig which then holds the typeface in the correct position whilst it is soldered.  There is another way.  Back in the day, it used to be possible to get special thin brass or steel type shims which wedge the typeface in place on the typebar whilst the joint is being soldered.  That way, the job can be done with the typebar propped up in the segment (no dismantling required),  There is no reason why you couldn't cut your own shims from ultra-thin brass shim stock.  I would solder the 'H' first, then align all the other characters to it.  As someone who hasn't done this before, I would allow at least a working day, probably more.  You would be handicapped by not having the professional mauling tools to make minute corrective adjustments to the typebars.  Are you really sure that you want to do this ?  I wouldn't fancy it myself !