Is short sale bad for seller?

[Paul Kogan]

I have 2 properties that I'm trying to off load. The properties are located in Philly and it's hard for me to manage remotely. I collect $875 from each. I cannot sell it in this market because I'll be loosing $50k. I was thinking about doing a short sale. I have a very high 790 credit score and don't want it to ruin my credit. Can someone tell me the seller's repercussion of doing a short sale? As always, your input is greatly appreciated.
Paul