For leases entered into on or after July 1 2020, the owner would only be permitted to occupy the unit, if the renter agrees in writing to the lease termination or the lease includes a provision providing for lease termination based on owner or owner-relative occupancy;Withdrawal of the rental property from the rental market;Intent to demolish or substantially remodel the unit;Owner is complying with a local ordinance, court order, or other government entity resulting in the need to vacate the property.'

I reached out to the management company and they informed me that since the tenants gave their intent to resign that they wouldn't ask them to sign a lease until July 1, 30 days out.

I reached out to the management company and they informed me that since the tenants gave their intent to resign that they wouldn't ask them to sign a lease until July 1, 30 days out.

To clarify, with flipping you wouldn’t be paying capital gains tax, would be paying ordinary income tax since this is considered active rather than passive income (assuming that you haven’t held for over a year and can’t demonstrate that you bought with intent to rent).That being said, with $100k profit yet low rents, this still probably is a better flip than rental, and you may be better off selling it and just choosing your next investment differently, with rental in mind,  so that it is a place that is cheap enough and can be quickly rehabbed for rental grade, and keep that one, ?? 

I think your intentions are in the right place but I'd give a little bit of caution about purchasing a property just to save a few thousand dollars on rent.

My intention is to replace the manager with a paying tenant and manage the property myself.

Clarify his intent and proceed accordingly.

If you're looking for something passive so that you can focus on your job and other obligations, buy & hold rental property could be the best route to take.If your intention is to run a marketing campaign to find deals and sell them to an end user or other investor, wholesaling could be your best bet.No matter what you choose, please find someone in your market with market knowledge and experience and offer them coffee, lunch, or volunteer your time to add value to them somehow. 

The 90 day timeline came from the 90 days of intention journal I just picked up.

A contribution of property to a multi-member LLC could effect the ownership percentage of the LLC in ways you do not intent to.