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My friend and I are moving to Rio De Janeiro with 5000USD a piece. We want to stay close to Copacabana?

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We want to stay near Copacabana and Ipanema so we can get loaded and have an easy time getting home. We both have 5grand a piece. How long will be able to stay? Could we find a decent apartment for 600-1000USD a month? Or even less? I don't want some shack that I am ashamed to bring my Brazilian queen home to :). Can any of you guys offer any suggestions? I want to be close to this area but just don't want to spend tons and tons of money to do it. Help! Thanks guys
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