Lease purchase the house to the current renter and have them pick up the full amount. You'll want to have the buyer open a trust in his/her name and transfer title to the trust naming the buyer as the beneficiary of the trust. This will ensure the buyer gets a tax write off. Then, have the payments made to a 3rd party company. You will be on the loan for 12 months after which the buyer will then refinance the property (after credit is cleaned up) and remove you from the loan. They will then take the house from you. No short sale, no foreclosure, no closings etc. I know someone well versed in this process that I can refer you to.
Deed in lieu of foreclosure. Contact the bank and ask them to take the title back. Not an easy process.
If you're close to Seattle, the value may be close enough to what you paid for it that you may be able to sell it without writing a check at closing. In some areas, you would have to do a short sale to dispose of the property.
You should have an accountant help you because you may be breaking even after taxes, even though you have a negative cash flow.
Ask your property manager for a referral to a local real estate agent for a broker's opinion of value.
All the best,