I'm currently interning for a large automotive manufacturer 5 hours from home. Since my term is only 4 months, I couldn't get a lease at a regular apartment complex and am instead renting a room, bathroom, and shared use of the kitchen from a guy with 2 teenage sons. So far it's working out great. Since you're in the city, you might want to expand your list of potential tenants to include interns and co-ops. It's likely that you're close to wherever they'll be working, which they'll like; they probably won't know anyone in the area to invite over; and interns are usually the better students, who in turn are generally quieter (not all, but generally).
As far as making everything work out smoothly, good communication is the key. Very clear expectations were set for both me and my landlord/housemate before I arrived. We've both stuck to our commitments, and if anything comes up that we haven't discussed yet we talk about it. I think it helps that we're both very easygoing people, but in the end I know I'm getting a much better living space for my money than I could anywhere else, and he knows he hit the jackpot on good tenants. This mutual understanding means that we're each a little more forgiving than we would be otherwise. If you try running your house like a dictator, you might get that uneven power dynamic Cats described, but so far that has been avoidable for us.
Price below market, target quiet introverts that won't want to be having people over for parties
I think this is key. As a renter, you can have a lot of say in who gets to rent from you, if you have the right price. If you advertise on Craigslist for $50 less than the local student apartments, you'll have a flood of responses. Then you get to take your pick. Similarly, you could browse through the Housing Wanted section and see if there's anyone promising.
The folks I'm living with are the least Mustachian family I've ever met, but that's a different story. I find it more amusing than anything, really.