@Misty StowUnfortunately for where you are marketing isn't applicable (unless there is valuable information about your circumstances that i'm missing.)

The feedback was quite valuable.

@Todd Crippen thank you so much for responding. your response and thoroughness have been incredibly insightful and valuable.

I guess I need a little guidance on the process. 

There may not be any, but you want professional guidance.

Ya- Turns out  that knowledgeable is very valuable. 

It is far more valuable to spend a little more on something in better condition in a better area which will lower your vacancy rate, your turn costs for re-renting property and your headaches. 

@Kenneth Garrett Thanks for the valuable information!

We are being optimistic, but realistic as well in terms of the outcome, and at minimum we have learned some very valuable lessons to use should we invest in future short sales.Thank you all for your replies, which have been very helpful!

I've started putting together a plan for me to "buy back" my 8 hours that I spend working for someone else via REI and am looking for guidance to help me figure this out and avoid common newbie pitfalls.