But conservative underwriting in today's economic climate should not be penciling IRR's that high. 

It also depends on how conservative your underwriting assumptions are.  

So I went conservative and kept current rents for the spreadsheet. 

A more conservative approach would be to sell and do a 1031 exchange. 

It may sound crazy and I’m sure folks who have done more of these create their budgets and stick to their timeframes better, but being conservative like this has saved me more than a few times.

I've used AI that uses Reditt for forum conservation and it's the best.BP has the most very insightful information and tips how to handle residential real estate and rentals, rather than using the old ways of using search engine, it would be excellente when there's AI feature where I can ask something like this "what shall I do when my rental experience this and that happened,etc,etc".... use the LLM that could give input where person that has more like, could have more accurate answer.

This is the more conservative approach, and this mindset will pay dividends for you in the future.

If appreciation averages 4% conservatively, and the median home price is roughly $450,000.

I know I could loan 80% but I would want to stay on the conservative end of things to get established.

I'm doing well recently with a conservative dividend focused ETF that's giving 10%,  with very little price growth or decrease.