Buying a rental for your college student?

[Lisa Kohl]

Currently working with out of area clients who are looking at purchasing an income property to house their student. The idea is to purchase a home large enough to house a couple of roommates who in turn will be paying rent. While it makes complete sense with the rising costs of dorm fees (approximately $950 a month) and meal plans. It’s made me wonder how popular it is for parents to purchase an income property for their college student?