I can go see them any time, day and night. I don't have to deal with other people sh*t, their horses sh*t, I make my own rules. And I don't have to rely on anybody but myself for my horses safety.
This. If I feel like going for a ride at 2 in the morning, then I go for a ride at 2 in the morning
. I don't have to worry about some other boarder 'borrowing' some of my tack and I don't have other nosy people trying to tell me how to take care of my horses. I like seeing them every day because then I know that Rafe got into some wire about an hour ago or Denny has been limping since this morning or Jesse is hanging by himself and is off his feed. I don't have to depend on someone else to notice those things and notify me.
Bad parts: having to go out long enough to feed, water, and check everything over regardless of weather or how sick you are. Mucking out the pens or paddocks every day (definitely not my favorite thing). Getting frozen hands in winter from chopping ice or frozen pants legs from where the bucket you were carrying water in spilled on you. Keeping up on the fencing which can be both expensive and aggravating.
You will always want to make sure that you have enough feed stockpiled so that you never run out even if the feed store is out and isn't getting another shipment in for several days. My rule of thumb is to always keep enough for about 2 extra weeks on hand and never let it get lower than that.
Keep bandages, gauze, disinfectant, penicillin, and banamine paste (or liquid if you know how and are able to give shots) on hand. I honestly believe it should also be required for a horse owner to be able to give an intramuscular shot. Even I won't screw with shots in the vein though, I save that for the vet.
Always have the number for at least 1 good vet that you can call in the event of an emergency (preferably 2 or 3 though).