I think your best bet is to talk with an attorney.

Given the size of the house and presumably nice finishes, plus the fact that it's brand new makes me think you could probably get 2+ times the return as a vacation rental instead of a long term rental.

To be clear circumstances are not "I want a new house", circumstances are "changing jobs more than a reasonable commuting distance away", "getting a divorce" and "increased family size".

If the appraisal is accurate, your best bet is selling the house and paying off your investors.

I'll bet any real estate attorney there will be friendly, they get even friendlier when you pay them.If you mean those that advise you not to do some screwy, dumb. stupid, hair-brained, unconventional, guruized, scamming or illegal activity, they aren't being unfriendly, to the contrary, they are probably being very friendly keeping you out of trouble you can't afford to get into.Call Realtors in the area and get references for a good RE attorney, see who the Board of Realtors uses or has used, ask your lender for the names of three good ones.Forget about trying to get a good attorney to advise you to do things you shouldn't be, adapt your methods and strategies to their advice!

This property is in a subdivision where each lot is about the same size.

Landlords are having alot of problems with broken pipes and other property problems right now.I'll make a bet with you, call in sick.

Here in the east you will see both, but there is a preference for Power of Sale by the institutional lenders.Here you will see small multifamily (1-6) come up as bank owned, but not the mid-sized to larger buildings - as you indicated, they usually have someone in second and/or will be sold off - often to a big player such as Killam or Brookfield - before going down the path of foreclosure.

FHA is not great but right now the bet way to get into a home with only 3.5% down.

The problem is this area is all over the place with the style and sizes of these properties.