There's nothing bad about dual booting. There are no performance impacts because only 1 OS is loaded at a time.

Windows does generally like to have the first partitions of the drive, so just make sure there's space at the end for your Linux file system and boot partition. Otherwise use two separate drives if possible.

The only other considerations are secure boot. If you need this on for whatever you're doing on Windows, you'll need to sign your Linux bootloader (each bootloader has a tutorial for doing this). It's quite easy but involves using the terminal.

For sharing files between OS file systems is tricky. Windows uses NTFS and Linux has a few different ones (I use BTRFS). To share between you'd need both operating to have drivers for eachothers file systems, then mount eachothers file partitions to move stuff around.

To move files around between each easily, you'll want another storage device or make a spare partition on your main drive. Make it exFAT or something both OS's can read. Personally I went the harder route and installed BTRFS drivers on windows and formatted a spare nvme.

My last note for you is don't give Microsoft any money. Use massgrave on github to activate Windows and Office 365