Can anyone provide any thoughts, good or bad with respect to renting to college kids?

I have heard 1) That the buyer can just be added as additionally insured on my insurance. 2) That I can be added on as additionally insured on their insurance3) That I need to hold my own insurance and the buyer needs to have their own as well. 

Yes, @Blake McWilliams is right, you can assume a loan with the 'Assumptions Dept'...but be prepared for a long wait.

I know she can stop paying on the Promissory Note as it attaches to nothing. 

If B class or better then you can consider not using a PM.

The owner said we can have an extension, if it’s within good reason.

Maybe you can prove me wrong? 

. :-)What I’d like is some ideas that parents can use and I guess younger people can use as well.

I have been told that it could be better to save the FHA loan for a later property (Possibly a personal one), if you can put 20% down for a standard 30-year fixed loan.

Lima One does verticle in many markets you can check with them.