Pretty much as long as you stay away from politics (get downvoted out of featured status like my last one) and stay away from pictures that have the whole joke already on them (meaning other users can't put a funny caption on it), you're safe.
Following those rules I could be at 100% featured. One day I submitted two comments instead of memes I'd made and deleted them, thinking I'd get my submissions back. Two I was testing the mods with foreign language posts. One I submitted a jpg of a meme I made just for facebook with all the textboxes already on the jpg image. I deleted my first Grumpy Cat Grammar Nazi meme because I missed a word...lol. At least 1, if not more I deleted when I did a self repost later because I didn't think it would affect my featured percentage. Don't remember what happened with the other 2 or 3, but I think I deleted them for whatever reason.