This hypothesis, coupled with some other events that have been going on (new laws, banks increasing down payments) make me think the market is about to crash sometime in the near future. 

@Dani Sung,What you're seeing with rising values right now is purely the product of supply-and-demand.In the crash, some 80% of home builder went under.

Plus I did the weekend crash course.

Actually, she told me a realtor friend told her what she thinks the house would be worth, but when i asked the seller what she thinks she dropped $50k right out of the gate.She was driving as we were speaking and arrived to work and had to cut our phone call short before i could really get into the call, but she did give me her cell phone and home phone numbers and told me to call back in a couple of days when her husband returns because he could answer all the questions she didnt know.So my question is this:What is the next step?

I plan on maintaining the landscape of my rental properties, at least in the beginning.As a courtesy, I intend of giving the tenants prior notice with my planned arrival date/time, but is it required by law that I do this?

Well, get in the saddle and start pedaling, if and when you crash, you'll learn something.

I've recently escaped from an engineering school in Florida to the warm embrace of the real south to pursue a career in "not crashing million dollar government owned aircraft."

More often that not the price that you end up arriving at is at discount to even the list price.

@Bryan Neal  Nothing replaces experience, but if you need a quick crash course on how to inspect/repair homes sort of like a professional, go head and watch a full season of "Holmes Inspection" it is fun AND very educational.

A modest size town that losses a major industry could see the local economy and real estate values crash.