Keep in mind that most college students are on a fixed income. You should do some research on building complexes that rent to college students, so you can get an idea of how much it costs for college students to rent in that area. You definitely want to charge a competitive price.
Having a provision in the lease about parties, amount of people that can be in the apartment, and loud noise can be a turn-off for many college students that are looking to rent or lease. Students generally want to live off campus after their freshman year precisely because they finally get the freedom to have many people over for parties and not be restricted by quiet hours, things they have been bound to their whole life at home and during their freshman year living in the dorms.
Also, you're likely to have to lease to new tenants almost every year. So if you don't mind the extra paperwork, high tenant turnover, and the fact that college students like to party, go for it.
