1. VMware vSAN will provide provide required functionality, i.e. built virtual shared storage across 2 hosts.
2. Fault Tolerance - if your VMs don't use more than 4 vCPU
But of course if you don't use vCenter, you will not get HA or simulated behavior. Look from this point of view - if one of host will go down all it's local storage will go down and therefore you will not be able to move corresponding vmdk. There is no solution in this case.
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