Play the long game.

I may just have to play the game and move into multi family!

you buying a widget to create a return.the OP is a tech company owner Multiple and is looking for hands off investing.. this type of investing in my mind is a waste of his time and resources.. by the time he farms it all out he would be very lucky to break even.. not to mention finding debt on low value assets is a chore in its self.. you can find a local bank that will loan to a local like yourself  but very tough for out of market folks to duplicate this model.. and for sure you just play the cards that are dealt you in your market.. 

@Lis Rosado as others have said, you need to learn to play the section 8 game if that is what you are interested in doing.

The scenario entered into the calculator is not going to happen (if it does play the lottery).

A transaction is a transaction.. and you have to play the cards that are dealt to you in each market.. safer to do it at home then try to rehab half way across the country. and we know that retail sales in many other markets can take a long time to move and usually for a lot less than what you think or your ARV valuations come in at.   

Play the long game...if you overcome their concerns now and take great care of them going forward, you may have a multiyear tenant or one that will recommend you to their friends for the next semester. 

The peso is what's historically cheap, the RE is just the lowest risk way to play the peso.  

So with that being said the only people considering the inexperience comes into play, the closest you can get to people who "know, like or trust" you will be your family members.

Whatever your number, just make sure to play the game smartly and keep 3-6 months expenses (I prefer 6-12 months) for each individual home so that you can sleep well at night in the event that something happens.