Even with guaranteed rent, it's important to thoroughly vet applicants.

It's no guarantee but it's a good place to start.

If the LLC is the maker on the note, there's a good chance you'll be required to personally guarantee the note.

Variable income is SUPER hard since covid and no real way around that beyond showing an offer letter that states you get a minimum guaranteed hours, and you may need a payroll log to prove you never went below that number. 

It has a 90-day guarantee... seems worth a try with that in place. 

I guarantee virtually no one is meeting that rule in SD because they're all on here looking to buy in Cleveland or Detroit because in that market price to rent ratios are so askew that buying at a 50% discount probably doesn't get you the 1% rule. 

When your LLC takes a loan, expect as members to personally guarantee the debt.

(Manhattan condo starts at 2M) I can guarantee 95% properties are running illegally. 

Hopefully that upfront diligence plus a healthy contingency budget would suffice to keep me out of that scenario, otherwise I would foresee a guaranteed loss, or underperformance at the very least.

I guarantee you are more likely to secure favorable terms if the seller likes you and can imagine you as a great operator for the business.