If you want to change the design, then do upon closing.

A major part of the success or failure of an STR investment is the design, furnishing and management plan.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

For example, what is the monthly revenue for the property and what are the "All In" expenses, including mortgage, taxes, insurance, utilities, repairs, etc...

Thank you again for your response and insight.I have most luck utilizing the local MLS for minimum 6 month leases under furnished rentals  

They claim to market on dozens of online channels, and they seem to know the right amenities to feature, have great design, services, experiences etc.

Would it be wise to buy the land with cash we have or utilize as down payment to avoid PMI?

I do own two triplexes in Scranton, and I will say the one issue is that you are going to be taking care of the utilities normally if they are not on separate meters, which could take a good amount of money away from your overall cash flow. 

I utilized those funds to purchase 18 rental units.

I'm trying to figure out a way to utilize a large storage building at one of my MTR listings in Memphis.