Thinking about buying a karaoke machine and renting it out to college students. Thoughts?

I live in a college town and I’m considering buying a $250 karaoke machine and renting it out to college students or whomever else for the weekends/parties/whatever. I’m wondering if anyone has tried this before or if it’s profitable?

I’m thinking I’d charge $40/night for the machine. I suppose I would ask for a $100 deposit though and give them the money back once it’s returned? I’d also ask for their student IDs/license numbers.

What do you think? Thanks

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source https://www.reddit.com/r/beermoney/comments/1e8n4c1/thinking_about_buying_a_karaoke_machine_and/