I'm currently interested in a foreclosure, to buy & hold, that is scheduled for a bid on the 16th of this month. 

Look at the managers for both sectors; look at the amount of work that you will be doing- pick the option that allows you to learn as much as possible and develop your skills as a real estate professional (the job/manager that is fun might not be the best for you to grow). 

I make between $130-240,000 a year (very thankful for a great job) and have a ton of savings.

You can't 'lose' your existing money in a W2 job, you just lose future income. 

I am currently attending college for Mechanical Engineering and feel as though real estate is a good fit for my schedule.

Prior to my current job I served in the Marine Corps for 5 years.

Make sure to get your home inspection scheduled as early as possible in the 10 day inspection period.

I am a working professional with a full time 9-6 job.

but that was 20 years ago and the market may have changed, I don't know.But here's something else to consider; you said you're losing your job.

I am going back to school soon to finish my Bachelors and have a full time job.