He would no longer own it, and couldn't take it back if the buyer defaulted......sub 2's are great for the buyer, but can be dangerously risky for the seller.

I guess a concern with a 15 year loan that's nearly breaking even is that if property taxes or HOA dues were to increase, I could get dangerously close to losing money each month. 

I would ask more specifically about the dog breed parts since most insurance companies do not cover certain "dangerous" breeds.http://reiguard.com/If you want an umbrella insurance policy as well, I am sure you can get one tacked on with your current insurance provider with not much more money.

Any criminal activity that threatens the health, safety or right of peaceful enjoyment of the premises by other tenants committed by a tenant or by any member of the tenant’s household or any guest or other person under the tenant’s control or is a danger to the premises and any drug-related criminal activity on or near the premises by the tenant or by any member of the tenant’s household or any guest or other person under the tenant’s control shall be grounds for immediate termination of the lease.First landlord nightmare experience is in the books.

At no point was I ever putting my family in any more danger than I currently am living in a really nice suburb of Chicago.

Memphis is one of the top 10 dangerous cities in US. 

Danger areas can be receivables, facility utilization, pending regulatory actions and code compliance. 

ARMs are definitely dangerous.

That's why there's often a danger of flooding during hurricanes in those areas.

Find and Analyze as many potential deals to get a clear image for yourself, the AirBnB tip is dangerous, as that should never be your first strategy, especially in a market like vegas, where STR is heavily regulated and lobbied against by the hotel industry.