Exercise is the best medicine.

., may not make sense for you.However, if you can find an tenant / buyer interested willing to purchase the condo a little below market $375K; sell them the option to purchase and then (separately) rent it to them until they exercise the option, you might be able to mitigate your loses a little better than a strait sale and bringing 40K to the table. 

A reason people may be interested in doing something like this is because that payment over a year, could minimize their down payment on the loan they select when they exercise the option.  

I like to bring my kids into mental exercises like this.

There are C or even B class assets out there who have low physical vacancy AND economic vacancy, i.e. tenants who do not pay on time.

I hope you didn't knock down any walls, do any physical work on the property, act as the general contractor, or manage the property yourself, as any of those could blow up your IRA per IRS regulations.

I steer clear of violent and physical offenses, but an old white collar crime does not register much on my radar.

How do have any ideas on buying and renting homes in another state or me not physically being there.

Too often people choose to buy in their own area just because it is physically close despite the (lack of) return.

At that date if they were still there the Sheriff would physically remove them and I had to be there to secure the home.