You don't have as much privacy but more than couch surfing.

As long as the LT tenants understand what's going on and you're considerate of their needs (privacy, safety, noise) I don't see any issues with it.Good luck!

Then my second question is the issue of privacy.

Quick info on me: I am 30, married, stable health care job, very frugal, spend about $3000/mo combined with wife, currently at Coast FI through VTSAX and cryptocurrency, but absolutely ZERO real estate experience, including no primary residence because I have worked exclusively travel contracts. 

Keep in mind you may have complaints from your tenants about privacy violations.

The following article covers the covenant and responsibilities of the landlord well:https://www.millionacres.com/r...I recommend letting both tenants know that you will not tolerate either party violating the privacy and quiet enjoyment of the property of the other.  

I'm a little surprised that he invests in cryptocurrency.

Then I often hear about the lack of privacy, lack of mutual respect of things and space, differences in expectations, differences in how utility bills are paid etc, and all the nuances that come with the tenant-landlord regs and laws.

@Pyrrha Rivers You have to remember, there are 3 credit reporting agencies, Equifax, TransUnion and Experian,,,for a conforming mortgage they will pull a FICO for all 3.For credit cards/personal loans/car loans etc each bank normally has one they use,,,Discover normally uses Equifax, American express tends to use Experian, etc etc, but they can change, or some will give you a card based on one Credit Reporting Agency, but pull a different one if you ask for a credit line increase (weird I know)Many of the banks use special 'formulas' for credit cards, car loans etc,,its not a one size fits all.The only score you can say "I have a "xyz" score (Trans union 788) is if your using FICO,,,for various reasons I at times will pull my credit from several different services the same day,,,I may have a score vary by as much as 100 points WITH THE SAME CREDIT REPORTING AGENCY,,,,Smart Credit may say my TU score is x, my privacy matters may say my TU  is a totally different number,,,this is why its so confusing

mother passed away rental now part of trust. nephew is renting. 6 weeks ago i entered without notice to check out house ,possibally to sell, left note out of courtsey. i thought every thing was ok.nephew went balistic, was going to call police because i invaded his privacy. i appoligized and told him i was sorry.