So, your mortgages will be secured by real estate and personally guaranteed by you personally.

This is not a means for you to invest in real estate personally, and you cannot personally benefit such as by keeping the income yourself. 

I don’t personally invest in STR’s, but previously served as legal counsel for a company that owned a hotel portfolio valued over $1B, and understand the space and policy considerations that are creating barriers across the country.

As a sales professional, you'll find that one of the greatest benefits of investing in real estate is tax saving -- I'm not a CPA and can't advise on this, but I've personally saved a fortune through REP status and cost segregation. 

The person you spoke with may be referencing earnest money deposit (buyer showing the seller they have skin in the game; this can be refundable or non refundable).Some lenders require an application fee (junk fee) and those lenders typically are more expensive to begin with.

You have tons of options and it always depends this is not personalized advice just general info let us know if you have any other questions  

I'm in the process of purchasing a home for personal use and have come across a dream house.

At this point, I do not have a ton of cash to spend but I don't want that to be a barrier to entry for me. 

I am the only person that will be able to update you in this matter.

The second personal residence that I bought was a two unit and lived I one and rented the other.