My host provider is bluehost. Could you honestly tell me if this standard plan can work? https://www.bluehost.com/hosting/vps
Or just tell me if you would advise me another option other than this multi-site with WPML?
Well multisite is better than WPML as wpml joins its custom table on each wordpress query .
So multisite is better option .
Well we have not run any regression testing , you can just start with basic plan , just make sure that its upgradable.