If you are an agent selling multifamily property in a college town sooner or later a buyer will say "I don't want college rentals because the college kids will destroy my property". They may do just that, but if you have the parent(s) cosign on the lease taking responsibility for the actions of their child you are almost always covered.

My experience is that Mommy or Daddy makes lots of money and they are likely paying for, or subsidizing their child's education and they view housing as part of that expense.

Any property manager that works in a college town will tell you pretty much the same thing so don't shy away from college rentals, because I think they are the best possible multifamily investment. One other thing, the college campuses across the nation are almost all expanding so how can this be a bad investment?