I'd go with a letter that has points such as:Thanks for your businessYour lease is up on June 30 and we will not be renewing itWe wanted to let you know as soon as we made a decision so that you'd have plenty of time to look for a new placeAs a reminder, your security deposit is $Y, which will be available to you under the conditions of the lease a, b and cI'd keep it pretty simple, and don't worry about justifying your decision.

Essentials: a solid on-site for showings and walk throughs & plan A,B,C for generally reliable handyman.

Anne,Thanks for the information it is very valuable, coming from a local investor.What kind of COC or CAP returns are prevalent in the area in each of the A,B,C areas correspondingly?

Found a townhome in a A/B area with A rated elementary/middle schools (in middle of multiple school options [2 middle, 2 elementary] so that's a plus), in fairly desirable area 15-20 minute drive to beaches, popular outdoor shopping center. 

Also, I do believe the property to be in an "A-/B+" neighborhood in the NYC metro area. 

Hey Pawnee,We enjoyed meeting you at the meetup on this past Saturday, November 22, 2014 regarding the A-B-C's of Real Estate Investing from the Ground Up.  

Yeah, I'm only using this as a guideline.I agree with @James Wise it's even quite hard to find the 1% deal here in a B+ neighborhood.

.:)A place that we all can learn extensively from different perspectives.I have quietly read the forums in the past year.A quick question--Often time, people will mention that the rental property in A, B, C, D areas bring them such different ROI.What kind of criteria make it A or B or C for you?

She said you would be dumb not to and looked at me like what a BS artist.

Simultaneous closings I mean using C's money to close AB transactions, full disclosure with C, of course.