Detroit, MI Market - Exit Startegy Advice

[Victor Williams Jr.]

Hello Bigger Pockets,

I recently moved from Michigan and have been renting out my property on Pembroke, near Wyoming/Outer Drive area.  As I am now out of state, I'm looking to craft the best exit strategy.  I bought the property in 2006, so as you well know, I am underwater.  I don't believe the property would sell for enough to cover the mortgage, so I am looking for advice as to the best way to eventually phase out of the property.  I'm getting decent rent right now, but not enough profit to hire property management, and I just don't like being a long distance landlord.  The current tenant is not in position to lease to own, or buy the property.  Any advice or suggestions??