How powerful should my hardware be?
I think 512mb ram is probably a bit too low. There is a risk for the pc to crash at some point. I think 1 GB+ should be fine.
Which ports do I need opened to operate a lemmy instance for my personal use (i’m only going to be connecting from home)?
To avoid opening ports you can use Cloudflare tunnel as you mentioned.
Only other option is probably renting a cheap vps. Here is a cheap vps options for 2.5$
For s3 iDrive e2 is cheaper. It costs 4$ per month, if you pay monthly and down to ca 3$, if you pay yearly.
The egress policy is mostly the same as backblaze. You get 3 times the storage you pay for. With backblaze you get 3 times the average amount of data you have stored.