If you feel mature enough

to live on his own in a home you own off campus then possibly IF the math is right. But you would still need to take in to consideration things like: Insurance
Fuel to and from campus
Campus parking—it’s generally higher for commuters than those living on campus living.

The need for a vehicle if he lives off campus which then means repairs, insurance etc on that. Trust me the buses never run on the same schedule as the classes and it always rains if he plans on biking, and bikes are stolen on a daily basis on college campus—we lost three between the two kids and they had supposedly un breakable chains and locks on them.

The temptation to have “just a little party” even if it’s not him, but his friends.

Also, I know ds was far better about getting to classes on time while he lived on campus than when he moved off campus. DD left college mid term her sophomore year because the stress was too much on her. As an adult she went back to college—paying her own way in cash as she went and became phi beta kappa with straight A’s the hiatus did her a world of good.

I second Jan on the “play the role of landlord”

and “find a good roomie” issues. My few experiences with roommates, both in college and afterwards, never worked out as planned. And when I moved out here, I rented my house out for awhile rather than selling it, due to a variety of reasons which made perfect sense on paper. I even hired a property manager to look after the place and provide those middle-of-the-night rescues if/when such a rescue was needed. The whole thing blew up in my face. I know a lot of folks make a nice income renting their properties, but for me it didn’t work out very well, and I wasn’t even in a college town. The folks I rented to were supposedly adults, also well vetted and financially secure and all that happy horsepoo. We finally had to get the sheriff involved to have them evicted after six months of no payment, because they met my property manager at the door with a shotgun in hand.

If you want to buy the house and live there, that sounds like a heckuva deal. But buying a house and then renting it out to a bunch of college kids sounds like a lot of mess with iffy financial returns.