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Before I consider buying this DLC are there any requirements besides being having  a Fond relationship with Derek to access his Step 2 moments?

You also need to start playing before Step 2, either loading a save in Step 1 or starting a new game. You can't load a save that's already in Step 2, otherwise you'll miss the chance to choose your relationship standing with Derek and won't be able to play his Moments.

So I don't need to invite him to the Soiree or something to access his other moments?

You do need to play Derek's version of the Soiree to get Derek's Step 4 epilogue, you can't do Cove's version. But that doesn't unlock his other Step 2 Moments. There's a yellow button on the right side of the Moment screen. You click that to switch over to Derek's Moments.