Selling an underwater rental.

[Tony T.]

I have a single family home that I have been renting out for 2 years in Georgia. It was my primary residence from 2006 (I know, the worse possible time to buy) until I moved in 2014 for a better school district. It has been a positive cash flow situation and a good learning experience in rentals, however I don't feel comfortable having a rental in my personal name and not under a LLC. My understanding is that you can not file a quit claim to a LLC because the mortgage will call the loan when the insurance gets changed. In short, I just want to sell it, or even sell it short. It's currently and has been rented out with a decent tenant due to resign in August.

I'm somewhere in the range of $20k underwater, does anyone have any experience, ideas, or suggestions about selling or if there is even a market for something like this?