Rental in college campus area

[Peter J]

What has been your experience with renting to college students in a highly student dominated area?

I found a property that actually meets the 50% rule but it needs about $50k in repairs first. Listed at $35k + $50k repaits = $85k but gross rents are $2100.

Let me know if there is significantly more risk in renting to college students because of the turnover and possible damage.