We present the optical–near-infrared spectral energy distributions (SED) and near-infrared variability properties of 30 low-redshift iron low-ionization Broad Absorption Line quasars (FeLoBALQs) and matched samples of LoBALQs and unabsorbed quasars. Significant correlations between the SED properties and accretion rate indicators found among the unabsorbed comparison sample objects suggest an intrinsic origin for SED differences. A range of reddening likely mutes these correlations among the FeLoBAL quasars. The rest-frame optical-band reddening is correlated with the location of the outflow, suggesting a link between the outflows and the presence of dust. We analyzed the WISE variability and provide a correction for photometry uncertainties in an appendix. We found an anticorrelation between the variability amplitude and inferred continuum emission region size, and we suggest that as the origin of the anticorrelation between variability amplitude and luminosity typically observed in quasars. We found that the LoBALQ Optical Emission-line and other parameters are more similar to those of the unabsorbed continuum sample objects than the FeLoBALQs. Thus, FeLoBAL quasars are a special population of objects. We interpret the results using an accretion-rate scenario for FeLoBAL quasars. The high-accretion-rate FeLoBAL quasars are radiating powerfully enough to drive a thick, high-velocity outflow. Quasars with intermediate accretion rates may have an outflow, but it is not sufficiently thick to include Fe ii absorption. Low-accretion-rate FeLoBAL outflows originate in absorption in a failing torus, no longer optically thick enough to reprocess radiation into the near-IR.
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