This will allow for you to cleanly pursue an eviction if ever needed.

Maybe this is obvious but we are sleepy so appreciate the help.

How are landlords with student rentals handling this?   

If this is the case, you could utilize a strategy called "Subject To."

Although balancing your portfolio makes sense, with such a low rate, holding onto this property might give you both stability and potential appreciation without rushing into other markets.

At which point do I need to find/engage this buyer side person and say I am interested in this property/warehouse/building can you work with me? 

I want to start a separate bucket for house funds, but am not sure what to do/where to put this where I can get the most out of it in a few years.

Agreed on this point.

This is an off-market deal.  

I might have to set this up for our MTR's.