Lease, lease-option or contract for deed?

[Rob Cee]

I have a rental house in New Mexico that I was hoping to be able to sell but it looks like it won't sell. I'm leaning on just doing a straight lease to just continue holding since I can't sell it. Just renting it out on a standard month-to-month lease gives me the most flexibility and is the least complicated. If the market changes I can always give my tenant 30 days noticed and list it again for sale. Where I could not do that with a lease-option or contract for deed.

The benefit of the LO or CFD is I could get a little higher monthly rent and a little more deposit. But it doesn't seem like it's worth it with all the complexities with dealing with the paperwork and potential of default on LO or CFD, and losing the flexibility of a month-to-month standard lease agreement.

Thoughts? This is a negative cash flow mistake rental I bought a long time ago and can't get rid of without lowering the price so much I lose my shirt on it. I could find a LO or CFD buyer very quickly though.