It's not really the homeless that worry me. In my limited experience, from time to time there are other types mixed in with the homeless (ex: drug dealers, hookers, etc).

Then again I am paranoid but not paranoid enough to stop riding the route.

A female cyclist coworker of mine was amazed I ride that trail at 5am. Of course, she is female. They have other safety issues to worry about.
I doubt someone is going to take advantage of a bald, slightly overweight, and goofy looking cyclist.