The seller asked for an extension because they had yet to secure a CO from the city.

If you mailed the extension, they are still not caught up on processing them. 

I’m still in my novice stages as an investor, so the only “unit” I’m renting is this one (for now), therefore, I don’t currently need a majorly extensive rental agreement.

Well to be clear, there wasn't a written extension of the lease (or provision made) but yes, you're right they are now a tenant -at -will.

The Act includes tax relief for those in presidentially declared disaster areas for major disasters on or after Jan. 1, 2020 and ending 60 days after the date of the Act’s enactmentIt touches on furloughed employees to avoid partial plan terminationIt extends the expanded limits for qualified retirement plan loans that were allowed under the CARES act (same 180 extension as the withdrawal no penalty)Also extends employers option to make payments of up to 5,250 tax free towards employee’s student loansExtended the grace period for unused FSA benefits for 12 months    As you own a soccer school you must have been affected to some degree by covid?

I want to know what you guys think is a better option:1) In 2 months when the lease expires let it turn "month-to-month" status and then 2 months later start New Lease with New Rent from scratch.2) Write an Extension Amendum now for another year but specifying the first 2 extended months have same rent as before and New Rent will take effect after.

The “15 years” only means an extension of the 5 year period prior to selling IF you couldn’t live there 2 of the years as primary within the 5 year original period, exercising this active military option THEN proceeding with a 1031 like- kind exchange.As for active military application - military extension of the capital gains exclusion applies for active-duty military members who are away from their property due to permanent change of station orders to extend the 60-month period up to an additional 10 years.

That’s not how I operate and as my property manager is my agent, they are an extension of myself.

How extensive is the work you need done?

and I use it extensively.)