Being a landlord in college markets, pros vs. cons

[Mikhail Shapiro]

I'm looking to potentially start focusing on purchasing properties to rent out in a college dense market. The vacancy rate in my area is less than 2%, which is fantastic, but a lot of this is due to demand from the 6+ colleges within a 15 minutes drive time. 

I understand the general pros and cons of operating in these markets, pros being built-in market demand, often higher yield in rental income and often charging premiums on shorter term leases. Cons being that often college kids live more recklessly and may cause more damage and issues with neighbors.

I would love to hear thoughts from people who have been landlords before in these types of markets. 

Thanks!