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If I ruin my reputation in the Coast of High Rock (I think that's what it's called) province, are there any repercussions? In particular, will I start being attacked randomly on my ship?

The motivation for this question is a bizarre money making method that I found:

1. Buy a ship (if you haven't already; if you're at least level 2, you can take out a loan for this purpose)
2. Change your transportation mode to "ship"
3. Enter the ship's hull
4. Attack the ship's door with your weapon
5. Kill and loot the guards that start attacking you (but don't surrender and avoid the back of the hull unless you want to fall OOB)

When I do this, I notice that my reputation for the "Coast of High Rock" province falls after I get hit. Will this cause any problems?

The Coast of High Rock province is the one colored blue on the map. It has no towns, and the only locations (all in the upper left corner of the map) are the two ships and the final dungeon (which you can't leave if you enter this way).