Hire a property manager. They will charge you about 8% to 10% of the rent. They will listen to your guidelines as to the type of people who will rent the house and will run credit checks of all applicants to see who are the best ones to choose as tenants. As long as you are picky as to who rents the property, I think that it might work out. Good property managers can provide input as to who are good tenants and who are bad tenants.
Also, remember all sorts of tax breaks are available to you when you do start renting out the property.
I think you should research this some more, but if you can make better use of your property, it can provide a lot of opportunities to create cash flow for you, beyond just giving you relief from the mortgage it currently has.
Obviously I hope you can sell it, but if not, take a look at how best to use it.
