I have been reaching out to banks and previous owners of properties in a nearby area and a bank responded back on a property that that they currently have on the books to go to auction in the future.

Multiple 2K deposits + having the ability to close on loans in the future (when there is uncertainty at the top of the market) can add up.

Some of the research I'm including in my market analysis is: 1) Rent-to-Income Ratio2) Unemployment Rates3) Population Growth4) Future employment/development trends in the area (i.e. what are the major employers?

I am furthering my RE education to further my knowledge for the future.

@Scott KobayashiWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

I definitely suggest you keep watching podcasts, reading books, and learning as much as you can - because the knowledge you will learn will forever shape your future!

This summer I have given a lot of thought on my future and I've asked myself a lot of questions pertaining to it. 

@Scott Wolf I am an Engineer, just have plans of relocating in the near future. 

(obvious declaimers about predicting the future are assumed :-)) This would likely be used for new development and be of most interest to a developer building from the ground up.2) Assuming the family is looking to sell in the next few years, what is the best way to execute on a property this size?

A lot of variables for anyone to be able to accurately predict the future of housing market (or stock market).