Placement of vanishing points
Before we continue with the exercise, let's take a moment to discuss how we think about the placement of our vanishing points. The video linked at the top of this page gets into it more thoroughly, but I'll lay out the main points briefly here.
While in this exercise we're keeping our vanishing points within the frame, this is actually not normally going to be the case, as it tends to lead to distortion.
As shown in this diagram, the two vanishing points in a two point perspective layout governs a set of edges, and those edges are perpendicular to one another. Meaning, all of those edges will meet with a 90 degree angle to one another.
The full slice from the left VP to the right VP represents a 90 degree arc that the viewer can see, but it's really just the central 60 degree portion that we see without distortion, with the portion on either side falling into our "peripheral" sight, where things get distorted but we don't really notice it.
As a result, as a basic rule of thumb, we generally want to draw within the central 2/3rds between the vanishing points. If we turn that relationship around, it means that the vanishing points should sit outside of the actual composition of our illustration, or the "picture plane".
Again - we're not doing that in this exercise, because we're not worried about distortion. Still, it's best to keep those VPs towards the far extremities of our frame.