However, I’ve been hesitant due to challenges like remote management, high interest rates, and low cash flow.

I would highly recommend doing a renovation loan like the 203k or homestyle - you are able to leverage SO MUCH CASH for such a low down payment. 

It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.

Quote from @Bonnie Low: I work with a lot of MTR investors and what I am seeing frequently with multifamily acquisitions, particularly with new investors, is that they often test the property just like you're mentioning, as a way to dip their toes in the water and see what works in their area and for their personal style.

An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

Low probability but high risk.

Also, for low value properties, most lenders wont take the risk. 

The program was created to give low-income tenants an alternative to living in federal project housing.S8 sets their rental rates to the LOW-END of market averages, if not slightly below.

Thank you for taking the time to do a deep dive. 2% home appreciation was also a fairly low estimate, it looks like in that area it is actually around 5-6%.

Here’s the bottom line; unless the deal is VERY large, or the sponsor is going to syndicate a large number of deals, the investor will make more money purchasing the property theirselves with a option low to moderate interest rate loan.