Re: Static Guest IP, Dynamic Internet access, must also connect to host

I am not sure if a VM router appliance is needed.

Have you tried assigning a static IP inside the VM that belongs to the same NAT subnet? The address ranges 3 through 127 should be assignable as static IP address for the NAT subnet (by default rules unless you changed them).

So for example if the VM NAT subnet is 192.168.109.x/24

The static IP you assign the VM is 192.168.109.100 with a default gateway of 192.168.109.2. I think the host should be accessible from the VM with 192.168.109.1 and likewise the host can access the VM with 192.168.109.100. You may have to be mindful of the firewall rules of both the host and guest machines though.