Would this trigger the mortgage company to exercise the due on demand clause?

Some companies can exercise their own discretion and approve based on how long ago the felony occured, for instance if the possible tenant commited that crime at 18 and is now 42 and has had no other incidents, then they will overlook the felony; but some will autoatically deny if anything shows up.

The reason they gained a bad rep is that seller's would specifically target tenants which they knew would most likely not be able to qualify later any way at which point the seller would keep the option money and redo the whole process, never really having to sell because the buyer could never really qualify for the home when the time came to exercise the option regardless.With that said, laws and regulations have tighten to address this issue in your favor.

Obviously a deal like that would be hard to come by, but for the purpose of this exercise let's assume. 

The city, county or state housing authority that issued the note lends the loan proceeds to a borrower to finance a multifamily housing community that has affordable rents.Because it is a direct placement with Freddie Mac, instead of the purchase of credit-enhanced bonds, it is less costly and more efficient.By Erika Morphyhttp://www.globest.com/news/12_1145/national/multi...

The purpose of this exercise is to determine which 5 or 6 MSAs to prioritize above the rest first in order to then do a deep dive on the specific area's demographics, job growth, rents, vacancy levels, and other data.

I have too many things on my plate to worry about something relatively small like the property I purchased.I know that the storage business can be great for people, but getting to know myself through this exercise has been far more beneficial to me personally.

REI is an exercise in math...with $$$ in front. 

Just browse the forum and see who answers technical questions and what their profiles say.And don't worry: some of us are pretty well-rounded after not getting much exercise in the last couple years.

If you have other non-HOA options, I would look to exercise those first.