Check with your lender first—they may allow it if you personally guarantee the loan.2.

For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work.

Here is a link to the meeting: https://www.buncombecounty.org/countycenter/news-detail.aspx... 

Their "guarantees" are total junk.

But in my experience, you would be better off spending that same amount of time/hustle working a second part-time job with guaranteed income, then investing in buy-and-hold properties. 

The programs themselves are not guarantee to the pathway of success. 

Personal guarantees are EXTREMELY common.

If you give someone over 19% membership interest in the deal, the bank will usually require a personal guarantee from that individual. 

Guaranteed others are fine with a lower elevation, but I do not have water run over my foundation inside.

Here's the link to their website: www.stayhikaru.com