Thanks @gongomgra, that helped. It still did not work, but I think I finally was able to get it. For those that come across this later, here is what I found.
I changed the IP to static IP found here- https://docs.bitnami.com/virtual-machine/faq/configuration/configure-static-address/
Then from the article you mentioned I renamed the bnconfig file. This seems to be what was causing the XMPP domain name to reset to the IP address.
Login to admin portal and change the XMPP domain name to the domain (mydomain.com). I then changed the Server Host Name (FQDN) - openfire.mydomain.com
At this point I was still getting the SRV error on the main admin page. I realized the DNS settings were set to the google DNS servers (22.214.171.124). So I modified the /etc/resolv.conf file and pointed to our DNS server. After a VM reboot, the error was gone.
I welcome feedback if any of these steps are wrong or unnecessary, as I was really kind of trying anything I could think of. Thanks again for the help.