I honestly dont even think its something that I should do unless there is some type of legal paperwork that could protect me in case of a loss.  

It might be an option to cut your losses sooner rather than later if you don't think you're able to afford the payments.  

It's a business & most business run at a loss before moving into the black.  

Articles of incorporation, operating agreement, allotment of profits and losses, voting rights, when theres only one person?????  

I do understand the other side of, less damage, a quicker turnaround, time loss, ect, however I don't do the cash for keys method.

He said it will devolve the corporation and leave me liable in the event of a loss.

It makes sense, but I am at a loss as to how to actually complete a deal.

We aren't flipping, so it only costs us rent loss to take a little longer to do it ourselves.The bottom line: do the math.

The deal is this -- I moved to Boston 8 years ago from Upstate NY for work and my relocation package included a loss on sale provision, but between the market for my house in NY and my initial handling of everything, the house didn't sell and at this point I'm underwater.  

It’s a beautiful ground level (all buildings are one story) 2 bedroom, 2 bath, presents like new and would qualify for loans, bought in 2006 in the bubble so I know I will take a great loss at $121,000.