I found that for me AC Milan had a pretty decent team with very decent youth. I think I came 2nd in my first season with them without any transfers just utilizing Menez and El Shaarawy especially. Also I found Van Ginkel to be extremely good, as well as their youth player Mastour. As long as you have a decent tactic you could probably win the league after maybe even one season, if not definitely two with the correct signings (I sign Richario Zivkovic, he's a machine). Good luck!
AC Milan IRL needs a great manager, the players they already have. I hope Ancelotti goes back, I'd hate to see him go to a Liverpool or other team, AC Milan needs him, and Ancelotti needs AC Milan.