It's a smart way to reduce or even eliminate your own living expenses while gaining investment experience.

I am currently in the process of eliminating all my debt (about 7000) and then resume my savings.

They had the money in my bank account in a few days typical ACH time frame it seemed.

This will eliminate the room for error and the uncertainty of a lender's performance. 

If they bounce a payment (check or ACH) more than once, I will only accept cash, money order, or cashier's check.

I told him I'd gamble that there's no one who even knows that restriction exists to enforce even if an heir lived in the area...the way to legally eliminate them is either get the beneficiary to record a new document (possibly a QC deed) to eliminate their restrictions, or pursue a Quiet Title if you think the person is no longer around or their heirs are not identifiable. 

@Doreen Morawski, I'm not sure a fence completely eliminates your liability.

I financed park acquisitions in the past in which a local operator purchased a neighboring park just to eliminate the bad situation.  

It also eliminated “the cap on the amount of the fixed charge that the PUC may authorize.

Eliminate your current rent or mortgage.Also, I wouldn't rent to a friend.