Now that the Bank owns the property, they will sell it to you using a “Limited Warranty Deed” (sometimes called a “Special Warranty Deed”).

Talk to nreinsurance.com, they specialize in real estate investor insurance, @Tim Norris can help you. 

I attribute this partially to the location. 

It clearly proofs your dedication towards your work specially "My work is never complete until you are residing in the home of your dreams and enjoying the heavenly atmosphere that it offers."

Originally posted by @Jim Dunn:My question is since I cannot continue to suffer any more monthly losses, cant' sell it as-is, and I cannot pay the management company for the repairs to make it re-rentable Jim, If this property is in Detroit Metro area (a presumption on my part), I'd would seriously look into selling it "as is" under the "handyman special" marketing term using a land contract. 

There are lenders that specialize in funding the first part of the transaction.

The question I ask people that want to carry is simple, besides knowing how to shoot a gun, are you totally willing and able to pull the trigger.Many people learn the mechanics of how to shoot, but aren't totally sure they could/would if put in that situation.If you are going to carry, many people like 9mm, however I don't really like the lack of knock down power (as a friend who was a chief of police for 20 years said, it will kill someone,  but it doesn't tell you body your dying very fast).A 40 caliber, I have a chiefs special, is a fairly small gun that has some knock down power, it is also VERY loud ,,,,I don't care if I hit them or they run away, as long as they leave!

You might consider Niche or Specialized Housing like student housing.

This may be a "special circumstance" property, unless you read about it somewhere else and are mistakenly applying it to this property?

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookYou might consider Niche or Specialized Housing like student housing.