Wow Ed. Sounded like a little more due diligence on your investment was in order. You didn't know before close that youd be negative cash flow?
You had closing costs on the purchase, and you'll have closing costs on the sale. You're in a declining market with increasing inventories. What makes you think you can sell it now for what you paid for it (plus expenses?)
That area has some nice condos. Too nice likely to appeal to the college market. The rental base for those kinds of condos in that area is pretty small. Is that -$300 just rent - mortgage, or you factored in maintenance, HOAs, misc expenses, prop mgmt fees, etc?... more