It's pretty much just a matter of acquiring a Raspberry Pi (I would recommend a Pi 4 if you are doing 4k) and flashing LibreElec to a flash card with enough space. Librelec is basically a basic Linux OS that runs that the Kodi app exclusively so that it behaves more like a Roku (turn on and stream). It doesn't require much space so any flash card > 4Gigs would work.
They have a tool to download the ISO and flash to usb. Once flashed you're pretty much ready to boot and install apps. The Youtube app requires some hoops to setup but once setup there are no ads and you basically have the same functionality as the Roku app.
In terms of parts I would recommend:
Rpi 4 2 or 4GB: Might need to search around for a good price. They used to sell for $30-40 but now they are being scalped for $100+.
Rpi 4 Kodi case: https://www.amazon.com/Flirc-Raspberry-Pi-Case-Kodi/dp/B07WG4DZR6/ref=sr_1_3?crid=PON9JJGM61FJ&keywords=raspberry+pi+4+kodi+case&qid=1641085963&sprefix=raspberry+pi+4+kodi+ca%2Caps%2C262&sr=8-3 - $16
Remote: https://www.amazon.com/gp/product/B071RTDYV2/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&psc=1 - $17
Storage: SAMSUNG (MB-ME32GA/AM) 32GB 95MB/s (U1) microSDHC EVO: https://www.amazon.com/gp/product/B06XWN9Q99/ref=ppx_yo_dt_b_search_asin_title?ie=UTF8&psc=1 - $10-20
Back when I did my last build it costed around $100 in total. Now it's probably closer to $150.
I'm running Kodi Matrix 10.0.1 on a Pi 4 and it works great. 4K/HDR plays fluidly (hardware accelerated) and the wireless 5 ghz throughput is 200 mbps+. Low power draw as well.
Kodi basically behaves like Plex. You can either store the videos on the Pi flash card or you can stream over wireless from your PC using Samba (Windows share) or NFS (Linux). It worth noting that RealDebrid + TheCrew has basically obsoletes torrenting and storing movies/tv episodes on the machine if you have an acceptable internet connection (> 5mbps). TheCrew connects you with the pirated movies/tv sources and RealDebrid essentially does the downloading/streaming of the torrents. https://troypoint.com/real-debrid/.
Kodi requires an adjustment period to get used to since it can feel quirky, convoluted and unpolished at times. But once you get adjusted I think most people will find it superior to Roku/Plex. I cant imagine going back to Roku+Plex.
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