short sell it - email me off line and I will provide you with information on the possibilities. If you have a great income and you can hold onto it and know up front that if you rent it - it will be for a loss and you're okay with that - then renting might be doable. If not - SELL IT FOR WHATEVER YOU CAN GET FOR IT.

If that's less than what you owe on it - then - short sale.
http://www.shortsales.tommcgiveron.com

The best thing you can do is talk to a top agent in your marketplace. It is very hard to be a landlord when you are not in the area. Since you will not be in the area to check on a renter I would advice you to hire a property mangement company to handle the rental. If you can rent out the home and cover the mortgage payment and property mangement fee than renting can be a good option but don't skip the management company to save a few dollars. Getting a bad tenant can cost you thousands of dollars. Talk to a good agent and see what home sales are like in your area. I would sell the house now and move on if that is possible. I hope your husband can get his company to help with some of the selling expenses.