I agree each property will have components of different age, but doesn't their estimate assume the best case of brand new components with a full remaining life?

More specifically, they are worried that the appraisers won't give full credit for the upgrades, and will not / may not look outside of the development to find comps (even though the others are less than a mile away).  

You can do this full or part time, right now, after you graduate, or any time in the future after that.

(i.e. pre-payment penalty percentage, length of term remaining, interest rate, etc.)2.

If I wanted to pay full retail I would simply buy new houses.

We would really need to know your full financial picture including interest rates to advise properly.You may want to consider asking here for an alternate viewpoint: https://www.reddit.com/r/personalfinance

Hat could be a great added bonus for full pro account members who request and become "certified.

I'm out in the field right otherwise I'd post a full reply. 

You need to analyze your finances to see how long you have to perform.If you have 100,000 saved up for example when you left your job to go into real estate full time and spend 5k a month to live on you have  about 1+ years before running out of money not closing anything and incurring business costs.Often people have little to nothing to start and are under capitalized for starting a business which is what you are doing.

Holds a full time job2.