I rented studios to a lot of students and had the same experience.The only downside I've heard of from landlords and the owner I worked for (who used to furnish apartments but stopped doing it) is that some tenants will want you to remove some furniture because they want to buy a few things of their own and get rid of some of your things.  

can I install a washer/dryer in a studio with no hookups?

Subwoofers (audio speakers dedicated to a powerful bass reverberation) are an inherent menace to anyone near a person using one. 

Or party.I only had tiny studios for the most part.  

A family of 4 isn't a good fit for a studio condo. 

I only rented small studios, so didn't have a party house type rental anyway.  

We didn't have to give her anything, but this was the worst thing that happened with a tenant supposedly injured  (although I went into her apartment right after it happened, and although she was upset, all I saw was plaster dust in her hair LOL) but I think she was hoping for a settlement, so went to the doctor's, but she never pursued any legal action) - and that was the total it cost the owner.Another tenant had a shower back up that overflowed the bathroom and caused her carpet in her studio/bedroom to be wet and she had to vacate overnight.  

The place has always been rented as a small studio really only designed for one person but will work in a pinch for a couple.

But, we lost the market for his usual targeted tenant - the single working tenant (most units were small studios).We ended up looking at students again, because the students need housing, regardless of the local economy crashing.  

So, for me, it would be property very close to a major university with a medical training program or law program or graduate engineering program.And, I liked renting small studios.