When you find your price you're gonna have to calculate much more vacancy like 50% (because 2 90 day semesters equals 180 and divide that 365 lands around 49.3%), because university students leave on holiday and summer breaks. 

There's an outside chance that you might get someone for the Spring Semester, but I wouldn't count on it. 

One more commonplace thing is to offer a discount for repeat renters- especially those that are in good standing - this would be like a ‘discount’ for signing a new lease agreement at the second semester end of one year, for the upcoming fall semester etc.Keep in mind too the perk of ‘family’ discounts along these same lines and renting to siblings (again, if you know parents are qualified co-signers- you’re setting yourself up for another good renting situation in most cases)You could also consider a month to month with another tenant during this time as well- just be sure to let them know in advance and screen them accordingly before going this route.

@Tyler Stone they never closed this past semester and seem to have survived well, unlike other schools.

I'm currently going into my last semester of college and have been extremely interested in the idea of house hacking for a first real estate investment.

I'm wondering what would be a better option in approaching housing for the upcoming fall/winter semester.

@Logan Taylor dude get your real estate license now and have that be your part time job during the semesters and your summer job.

@Paul StammI just closed on the student rental in April and its under renovation now, so I will likely not start leasing until the spring semester which starts in January.

Gross income is definitely higher renting to college students, but I would be curious to see how the net income would come out after renovations and setting aside more cash for fixing the place between semesters.  

The way student loan delinquencies work they show up even between semesters if the student doesn't enroll most students don't realize they have to defer if they take a semester off.