@Justin SchaeferNot to be mean, but with that much real estate investing history and studying in your profile, you don't know about the secondary mortgage market? 

Our goal is to provide clean and well maintained housing while providing both parties with a positive solution, the tenant and us of course.

Then maintain. 

However, I'm conflicted because I would have to pay $2,140 just to maintain this place per month.

Study, educate and build relationships with people doing that particular thing".

I'd study what's happened to the Inner East Side for the previous decade to see where it's come from and what it was on it's way to becoming what it is now.

Some cost that may vary based on location will be your environmental impact study, your list of cost from the Architect may see a lower cost for the schematics on a smaller project, with similar footprints for all four units, versus varying unit size, and scope requirements (less work, lower cost for A&E), the feasibility study, proforma, 3-D renderings, and other associated cost are going to depend on where this project is going to be built. 

Even with that type of contract you may still have an exposure if you do not maintain or protect the space. 

Stick with the real estate industry. 4 years practicing that will serve you much better than wasting 4 years in dance studies!

Though, it's definitely a niche and needs to be studied.