One of the things we do to circumvent this problem is to start earlier. 

I'd consider starting with letters then perhaps following up with a few rounds of postcards.

On the flip side, if I keep the property and rent for the above values, I would be paying off the debt every month from the income, essentially making me debt free due to the payments being covered, and I keep the asset, which will start cash flowing a lot once debt is gone. 

Where do I start to talk with someone about investing and what would make sense on paper for me to do this deal? 

Good luck and congrats on getting started.

I have a Schlage Encode lock on 1 property, using Remotelock and integrated with OwnerRez for code purposes, etc. works great for over a year.just started a new property a month ago.

If subject-to solves their problem you will likely get it accepted.Find a local RE attorney that does subject-to contracts and have a chat with him. 

Welcome to BP Richard,These forums are a great place to learn and meet people, whether you're just starting out or you're a seasoned investor.

Shoot me a DM if you'd like to chat more, I'm a real estate agent and student studying here at Cal Poly!

If held by an entity we have found great success in arranging for cash out refinance loans..Let's chat