Invisible Edinburgh said the aim was to reveal a different side to Scotland's capital city.
The tours start in the Grassmarket, Castle Terrace and Middle Meadow Walk and each has a different theme and is tailored to the guide's individual experience.
The venture has funding from the Edinburgh Airport Community Fund.
The themes are powerful women of Edinburgh, crimes and punishment, community sport and food and charity.
Zakia Moulaoui, 28, from France, set up the tours after getting the idea from a project in Greece where street vendors take people on walks.
She told the BBC Scotland news website: "We have four guides at the moment but will be training up more in September.
"There is a homeless point to all the walks, which is personal to the guide, so for example the crime and punishment tour will tell you about Burke and Hare but the guide will also tell you about his own relevant problems with the court across the road with funny stories.
"The tours are a mix of old and new.
"In the powerful women of Edinburgh you will hear about Maggie Dickson but then also about JK Rowling."
The Â£8 tours run on a Saturday and tickets must be bought online.
Walking tours led by people who have been homeless have been launched in Edinburgh.