My experience in this area is limited, but I have seen similar situations so here goes.
My concern is that the guarantor is in a different state. That would complicate the ability to sue them should your renter fail to pay. I was peripherally involved in a similar situation years ago, and the problem was serving them, which court system was appropriate, etc. It was complicated and the person owed the money eventually decided it was going to cost him more money to get a judgment than he would receive in the judgment so he dropped it.
Others probably have more recent and a closer match experience.
