Withoutknowing the details I can not suggest which would be right to add on.Several you should pay attention to are:- Ordinance & Law: Provides additional building coverage to deal with rebuilding costIncreases due to changes in Zoning or Building laws- Personal Injury Liability: Libel, defamation of character, wrongful imprisonment, etc.

I was wondering if your willing to share some more details specifically regarding expenses, maybe hop on a call one day with me? 

The specific assistance organization, the screening of the tenant, the property, and the PM company that should be communicating with the tenant all play a role in the success of your investment in regards to tenants.

If you wish to network or ask specific questions about your local market, you can go to your local real estate forum and discuss with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking 5.

So far everyone that has predicted rate drops have been wrong so I wouldn't bank on it. 

You listed some of the benefits but you didn’t explain what you’re specifically trying to accomplish.

Analyze Rental Income PotentialRun the numbers for your specific property.

I'm thinking I can just write a simple letter giving notice that the lease will end at the end of 12 months letter style without citing any specific reasons. 

Are these areas good for rental property investments, or am I barking up the wrong tree? 

But maybe you can prove me wrong!