Is it possible to purchase a home from someone, and give them the first right of refusal to buy it back at a specific price at a later date?

When we're 60 days out from the lease termination date, I send the tenant an email / letter asking if they intend to renew.

This notice contains the homeowner's name, auction date and in some cases a description of the property/principal loan balance. 

Should we be doing this HELOC if we are unable to pay it back in full at a later date. 

At one point I even tried working with the tenant to see if a different due date would help based on when he was getting paid, but he said he was fine and his new job would help him get ahead.

Quote from @Donna Brake: Start the eviction process on the earliest date allowed by the law and your lease.

Something else I noticed on the first page of Offering is "The notes are being offered until the earliest of...[] December 31 2024, which may be extended in our sole discretion, or the date on which we terminate the Offering."

All tenants are up to date with rent.

Also note that at first I was nervous about vacancies b/c I marketed it and then it sat for a bit but it seems travel nurses book very close to the the time they actually will be in the area, about 2 weeks out from move in date.

The 1st month rent needs to then be paid 72 hours prior to lease start date.