
Valerion
VisionMaster Pro 2
Great picture/gaming, but RBE and no lens shift are dealbreakers.

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Decent unit but the input lag is too high for gaming. The BenQ TH685P would be a better choice.
A 50" image you are honestly better off buying a TV. What specifically requires you to use a projector? Also not that the image from 8 feet is going to be around 80" give or take depending on zoom and no keystoning. Usually 100" or 120" is the sweet spot for home projectors. Another model to consider is the TH685P from benq as it will give you the option for 120Hz refresh if latency is a concern. They also have some short throw models if throw distance is a concern. Do note that for the majority of projectors latency can double if using keystoning along with degrading the image. Make sure you understand the throw and offset setting to ensure the projector actually works in the room before buying.
TH685i Epson has its own issues also. Not from warranty as no idea on that front but should be good. The issue with Epson is if the light engine goes after warranty the projector is garbage as it is crazy expensive to get the replacement part from Epson. DLP projectors can be fixed much easier. But DLP does have more moving parts so there is a trade-off.
The best "cheap" projector you can find with good latency for gaming is probably the Nexigo pj40. That was my first one. The lcd screen in it burned after about 6mo, so I upgraded to a refurbished benq th685 for about $500. Massive upgrade! If its just a little fun thing to keep the kiddos occupied though, really any cheapo one should work decently as long as its not being left on for 6+hrs at a time.
I JUST got a used benq th685 & it's absolutely beautiful however i found the rainbow shift in low light gaming to be too straining for my eyes. (Think skyrim caves are full of rainbows now lol) Any recommendations for a different projector?
I got the Optoma HD29H for just over 300, 1080p 120Hz gaming with 4K HDR compatibility. Then side-graded to the BenQ TH685P, also a great 1080p 120Hz gaming monitor with 4K compatibility, and the visuals are richer. 
Mine died after 7 years. Got the benq th685 its way better. Imo
Its solid. I mostly use projector for gaming. The epson had to have all curtains closed, and only ambient light(20 ish watts max) wife used to come in and turn overhead on. Would wash the whole screen. With the benq it still washes a little,but barely noticeable. Verry low lag rate that you dont notice any. And the picture is amazing. Im at 120" if you go bigger im sure its not as good. It is a short throw. I am at 9 foot away to get 120". I couldn't be happier.....unless it was cheaper.lol

Valerion
VisionMaster Pro 2
Great picture/gaming, but RBE and no lens shift are dealbreakers.

Epson
Home Cinema 5050UB (V11H930020)
Great value with huge lens shift, but outdated lamp tech and poor HDR.
Epson
Pro Cinema LS12000 4K PRO-UHD Laser Projector
Superb 4K/120Hz gaming and no RBE, but requires calibration.

BenQ
W1070
Budget king, durable with good image, but RBE can be distracting.

BenQ
HT2060
Excellent 1080p contrast and quiet gaming, but low brightness for big screens.

Ranked #1
Valerion - VisionMaster Pro 2

Ranked #1
Epson - Home Cinema 5050UB (V11H930020)

Ranked #1
Hisense - Laser TV PX3-PRO

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Anker - NEBULA X1 4K Triple Laser Projector (D2351)

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JMGO - N1S 4K

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Anker - Mars 3 Air