If this is more a unicorn for your market and the extra cash is just going to be sitting in your bank account, then consider putting in in the property. 

An extra $5 an hour over only 6 months (Which is how long I'd work there, maybe 7 if it stays warmer outside longer than normal)  is 5k which is miniscule in the grand scheme of things but is massive for me to acquire that first property.

Sounds like you could pickup another rental with that cash and be looking at another $800-$1000+/mo instead of the extra $400 on that one. 

For your own sanity’s sake spend the extra few bucks.

The difference in equity is a lot to you, but depending on how the capital structure of the lender looks, it's just not worth the extra work to maximize this deal.That said, why bother using commercial at all?

I plan to get it again as another source of income, while I earn some money for investing, and build some relationships.

@Villy Ellinger  Would you charge any extra if your tenants could sleep with the cleaning lady?

So not having 1 bedroom units doesn't mean you will turn away single people, in fact many want an extra room.I would do something like 10 single, 10 three bed and 60 two bed, unless location and community needs drive you in a different direction.

Obviously, I can't keep up with their bids since they can eat the extra costs.Anyway, I'm having trouble locking one down.

Always work with terms that fit what you can do and earn cash.