Are there any verbal agreements or arrangements between the current Landlord and Tenant?

You're under no obligation to arrange your life plans around the tenant.

Would this arrangement run afoul of related party restrictions?

I recommend one further breakdown...the $1614, split (annually) between maintenance, major repair, and PM fees.Once you have isolated the PM placement fees, you/we can assess whether or not it is causing the property to be unprofitable (or if it is something else).Placement fees vary by market and by PM (uncommon in my market).I recommend working with your PM or another one on a compensation arrangement that better aligns interests than placement fees.It will be hard to make a profit with a 60+% expense ratio. 

Any major damages, they can get after the movers.One plus in this arrangement is I have spare fridges in the event one goes bad, either mine or the tenants.

My buddy said he can arrange for me to meet them pretty easily.

I barely was able to arrange to get the carpet cleaned in time!

If I see that their current arrangement works for me I keep the same company, if not I find other local companies online and feel them out over the phone/website/emails and through reviews (google & biggerpockets are best friends). 

You can let them know that your goal is to get it rented ASAP and that will get them off the hook for added rent when it vacant....so their cooperation would be greatly beneficial to both sidesIf its a good tenant and they are leaving for a reasonable cause, I try not to be too harsh.....make arrangements to get it ready to go ASAP and move on...

The language I used was plain and spoke more to the arrangement.