OK here is the update.
I started by removing components such as ram, harddrives, etc... I removed the fan and then removed the processor. After removing each item I powered on the machine. It would shut down as before except for when I removed the processor. Once I removed the CPU the power would stay on indefinitely.
Also, when I removed the CPU it was HOT, to hot to even hold. I do not know if it is normal for the CPU to get this hot. I let it cool down for a few minutes and placed it back in the machine. Now that the CPU was cool I turned back on the machine and it INSTANTLY became extremely hot again.
Are these the qualities of a fried CPU? I assume that this is what I should be replacing here along with a better fan. My other thought is that there may be something wrong with the motherboard that it causing the CPU to instantly overheat for some reason.
If anyone could offer any other info here it would be greatly appreciated.