Also, if anything were to go wrong I wouldnt have the capital available to pay extra on a property every month. 

I listed it for a month, then decided that cashflow would be strong with the current mortgage.

The reality is no one knows what's going to happen until 6 months later.

I bought one in Pinal county a couple of years ago and earned the full 16% interest  (1.33% each month) for 14 months.

It has now been 3 months that the auction has been won and the deed has still not been issued.

Over the past 6 months I have been really researching and devoting myself to self improvement and learning.

If you oversimplify it and take your total cost to close the deal / monthly savings = # of months to Break Even.

I’d suggest you call a PM or two and ask them 1) How much rent they would charge. 2) What fees they would charge you. 3) How long they think it would take to find a tenant at that rate.

You may end up needing to go through the whole foreclosure process which can take a lot of time and cost a lot of money, and you may end up getting the property back in much worse condition than when you sold it, potentially with a squatter in it and months of lost rent, and in a worst case scenario you will be in a much worse position than if you had just sold it outright. 

Over 1 month with 124 Zillow potential tenant contacts, the property manager report showed no leads from Zillow and couldn't find tenants.