Renting to college kids

[Warren West]

I am in the process of closing on a duplex that I plan to do owner occupied, near Providence, RI.  I am very close to a local college and have been starting to wonder about renting to students.  For those who have done this what are the major pros and cons?

I figure I can charge them more than a typical renter, but there is the stigma about college students being irresponsible and partying.  I'd be living either above or below them.  Also, for those who see a downside of having summers with an empty house, I went to school in the area and know that typically landlords have students sign year leases here even if they don't plan on living there during the summer.