The numbers may be 30-40% lower than today's cost, but the process/approach to estimating may be good for you to review.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Avoiding accessive PM fees (personally I recommend most people self-manage)These will eat away at your ROI.

We will shop for used appliances where we can when we need one… or pick up used cabinets if we can, or search eBay for something smaller,  but going to the extreme of personally shipping something big in internationally for one-off renovation needs seems like a stretch of reasonable.Just like you mention, the number of unknowns would not seem to be worth it to me.Just my 2 cents.Randy  

All it ends up being is one person saying "Is not!"

I purchase my personal investments to maximize their equity and hold long term.

Of course I always approach the market with a higher rent value. 

This approach could keep things straightforward while accommodating their need for housing.

Are you interested in S8 because of a personal reason or you think it's the next "hot" investment idea?

If you have a chunk of money to get going I'd personally buy the biggest thing you can if you don't I think house hacking into a 4 plex is great.