The reason I'm leery is I can tell you that the university has built a lot of new modern townhomes and apartment complexes which are being rented out for similar prices as the older homes which I contribute to the main reason so many of these older homes are for sale because many of them have been sitting vacant for a while.  

Sure, the systems that they teach are not rocket science, but there is a big difference between learning what to do and actually doing it and achieving results. 

Is there a way to modernize it ?

As Aaron said, see what else they do besides just property management which isn't rocket science.

In modern common law it is a device used to prevent, or "estop", a person from making assertions or from going back on his/her word.  

My house is a large 4600 sq. ft. modern farm style house with a 2100 sq ft. guest house, on 20 acres, with a large pool, and seasonal pond.

It's not an exact science at all. 

My guess is If you're in the NY/NJ metro area they will want to see the old homes go and replace them with new modern homes that they can sell at a handsome profit and jack up the lot rents. 

RE is a science, not a game, not a series of steps, not a mechanical process, it is a science that includes the artful manipulation of applicable elements, rues and laws just as any other science is practiced or applied to arrive at a solution or end result.

Ironically, though the term mortgage survives in English, in modern French it is called hypothèque.