A lot of guitarists prefer the mic-on-amp sound. So the process would be to put a mic on your guitar amp speaker, and sample via the mic. The mic would have to properly preamped of course. I almost never do that though because I have neighbors, so I just use a modeling amp and speaker simulator.
Once you have recorded your sample, you can edit it on the OT or your computer. If you use the OT, you can use it’s slicing functions to create slices in your guitar sample, then trigger those in the sequencer.
Also, as stated in the below document, you have an 80MB RAM limit when you use the Flex machine. The closer you get to the limit (approx. 8 min) the more limited your options get. Again, this is all explained in the document.