We do some rentals to students and/or professors-researchers during the low season (which includes August!), though we don't take advantage of the rent guarantee. Students generally are looking for places in Paris from 400 to 600 euros per month, though if your apartment were big enough for two, the rent could be up to twice that. If you could construct a financial plan that worked for you with that sort of income for 10 months, the school year, you could perhaps have use of the apartment for two months. I say perhaps because a recent law requires year-long leases for furnished aparatments, so you would need perfect understanding with renters who wanted to leave when their classes ended, and did not change their minds. Also don't forget that rental income is taxable. The tax regime for micro-enterprises is gentle, however, with a 76 percent deduction from gross rents. Also, you still must find the renters and maintain the apartment, and you would need to adjust furnishings if you rented to students, who among other things, need desks. It is doable, though not without effort. But if I have one small insight based upon six-plus decades of trial and error, it's that you can do anything if your mind and heart are set on it. Good luck!

Thanks again everyone. These are wonderful suggestions. I have a small budget but I know that I can find something near Paris...of course it will be the size of a dog house but that's okay with me...who sits in their apartment when in Paris anyway right? Dave, I agree, I'd love to own something and rent it out while away. I only get 5 wks vacation/yr (which is a lot for Americans). I have one more question...what arrodissments would you all suggest? I hear Marais is still affordable. I understand that St. Denis is not too safe. I love Ile de St. Louis as well but I'd have to save enough money for the next 30 yrs and still wouldn't come close to affording something there:) Oh, www.pap.fr is a good web site.

It probably has little relation to reality but "A Year in the Merde" by Stephen Clark has an amusing chapter about buying a cottage in the country.

The cheapest arrondissements are the 18th-19th-20th with enormous variations depending on exact location.
I live in the cheapest part of the 18th, but if I were looking at the moment, I would set my sights on the 10th or 11th as being somewhat more central but still relatively cheap.

good luck! I hope you get your place.

Any ideas how much Normandy costs - think the landing beaches area?