Is there anything I should focus on for the design / layout if the purpose is mainly for renting out? 

Yes. build to rent in urban core adjacent neighborhoods. traditionally in our market in Columbus Ohio existing inventory was good 2014-2020. as prices rose, the cost to build started to match existing inventory prices because of supply shortage, especially for 2-4 multiunit dwellings. around that time we started to look at new construction and land. we found that land is a 12 month or more supply in our market which makes it a buyers market and you can design any structure you want in new construction. if you like a layout or floorplan all you have to do is design it. after that we looked at the right unit mix and Floorplans and layouts. we started looking at high rent per square foot layouts that were better than single family.

The price we thought was very reasonable in this current market based off the other properties we have seen prior to that with similar layouts. 

Each one has been a step up as far as space, location, and lay-out.

Currently in the middle of new floors, a new bathroom, new kitchen lay-out, new trim—after completing tons of demo.

I do have a property that has plenty of parking, seven rooms/bedroom that would and could be a good fit for a pad split layout in my opinion.After looking at some of the reviews, I became less convinced than ever up into this point. 

Did you modify the layout of the building (e.g., add bedrooms, reconfigure space)?

Make sure there is a good number of comps with that similar layout so you know you can sell the property. 

We now are looking to create an LLC and setup the necessary legal documents to protect both parties and layout the terms of the agreement.

Weird layout houses in a questionable neighborhood (making an assumption there) don't sell for appraised value.