While the possibility of ending up with a non-paying tenant, who you cannot evict, is real, this can occur with any tenancy type.
I would suspect that it is no-more likely with a HAP tenant, as their relationship with the council has value for them. Of course that means nothing to some people.
You say you are open to all options, that says to me that you haven't thought hard enough about your business.
Most properties lend themselves to a particular type of tenant. Is your property suitable for children, or for students. Most landlords have a view of how their role will work out. Do you want the reduced hassle associated with letting to a family. Are you willing to take on the extra work involved with letting to sharers for a higher price.
The one issue particular to HAP is dealing with the council. In my experience this is an additional bureaucratic grief that you could do without. And the council does not play straight, they have their own issues and they will push the associated costs onto the landlord if they can, for example, I have been asked to provide certification on the heating system which the council have no legal right to ask for.
As a final point it is illegal to discriminate against tenants on the basis of their being in receipt of HAP.