The rest of the financial picture would be helpful but I understand it’s your life and you probably don’t want to publish it. If a few hundred a month wont kill you, i’d rent it out as long as you can qualify for another purchase if/when you decide to buy. There are a number of families who bought at peak and have lost their home but want to stay and rent, it is a 150x rent multiplier, while there are better deals to be had in some condos or smaller homes as far as the multiplier goes, yours doesn’t need any work and has some appealing features. Those people who lost their 600k no down toxic loan specials didn’t all vanish. They can afford 2k, they just couldn’t cut it when it jumped to 5k and they cant buy for a few years. If you can afford it and you think it is near bottom, place your bet and wait and see. I sold a property about a mile from you in 1997 and did exactly what you did, walked away with about nothing, lost my down and upgrades but I couldn’t handle the fear of the unknown. My mortgage was close to what the rent would have been but I was fearful of qualifying for the next one and dealing with months without a renter. Eleven years have passed, I would have been cash positive about $500 a month for the last 8 years and could have sold at a profit anywhere between 50k and 350k in that time, I’m still kinda mad at myself for being a wuss. What is worse is that it would have been paid off by now, I’m an idiot, you don’t have to be one. Excuse me, I’m still kinda reeling from the realization that it would have been paid off already, I hadn’t thought about it for a while. That would be about 1500 free money a month, dammit!! I need to go find a nice solid door to bang my head into.