It appears yes, it is a straight sale.....you get the full price in cash, they get title....you simply get a portion of cash flow and the right to buy back later....can’t see how that changes the initial sale.

Check with a commercial lender to verify actual terms.2.  

I’m also looking to fix and flip initially but hoping to move to a buy and hold strategy in the long term.

If that's the case, then yeah, once you send a notice to tenants in possession, and once you've verified that it's vacant and if you couldn't verify its vacant, waited 90 days (Assuming no one contacted you back) then sure, start eviction.

My business partner and I have an initial meet and greet with an accountant to discuss setting up the business.

If you agreed to use a licensed contractor, then it was your responsibility to use a licensed contractor......tou just accepted a “license number” without verifying.  

Plus they are ok with seller carry-back, which I did in my initial 12 unit purchase.Thanks!!

Now, I'd like to roll a portion of that initial portion back to the 401(k).

That was certainly an initial concern for the area as most units are almost half the price, however, they are in need of much repair.

I would say, pay the tuition, and next time verify that insurance has said they would pay the claim, instead of it being in processing.