Yes, had to go in more detail with my answer. $5400 comes with too much risk and wear and tear on the property. 

You have to find rentals that are on the market for 3 or 4 months or more.

This way the partner is getting paid more precisely for what they contribute.

You may be full for three months, then sit vacant on some rooms for three months or more.

Really a MF deal is similar to a SF deal but there's more moving parts and more at stake if things go wrong.

Double check any cap ex you might have coming in the next year or more there so you can plan to set that aside (boilers, roofs, etc).

Visit with people there and you'll get a more detailed look at things from people actively working in the areas.

Adding and making better could sell or rent faster, but it won't get you more than what the market ARV and rent is set at from other similar comps in the area....and your Interior Design background will help, if you you it mostly as an understanding of cost. 

You want to find local home buyers with overage who wholesale as they are usually more reputable.

Welcome to the community and be ready for a huge amount of information at your finger tips.