For sure. I think the free market would take care of a lot of these issues. And by that I also mean community. Who is going to want to associate with or do business with a shady fellow who moves in next door and starts stockpiling rocket launchers while maliciously leering at everyone everyday? He'd be driven out via social pressure/ostracism/economic starvation, I'd guess, if he could even "move in" in the first place (a land seller would likely have several background checks in place).
As for regulation now, yep. Most folks I know with guns are very responsible and caring folks. I grew up with guns in the house as well, and was taugh that they could very quickly end my life and were not toys.
Property owners would ultimately have to decide the type of people they'd want to live around, and could even make rules to government what's allowed/not allowed on their jointly owned properties.