You can put the beginning of round marker on the needle now if you want. Find the tail, then follow up to the needle and put it next to that stitch. But for a pattern like this, it probably doesn't matter, you just knit around and around and there's no shaping or change of stitch pattern, so you can get away without one.
And if you only have 3 rounds knit, yeah, you can see both the knit and purl side. Give it another 4" or so and it'll look more like the picture. Knitting takes at least an inch or 2 for it to look 'right'.
sue- knitting heretic