To clarify, free dining is a promotion offered by Disney, when you make a cash reservation at full price (rack rate) for resort room inventory that they own (and buy park tickets through Disney).
When you rent points, you are renting the use of a timeshare. It's a private transaction between two individuals, and an owner is making a reservation for you with their points, for a resort room that is not part of Disney's inventory. This all happens outside of Disney's reservation system. So you would not be eligible for free dining, or any other promotion Disney is offering.