If your truly upside down on this property obviously unless you have cash to burn in the bank (and I doubt that many do that are trying to sell in this current market) I would try to simply rent it out and break even until the market returns. It sounds like it is time for you to get out the old paper and pencil do the math, all if, taxes, insurance, fee's, mortgage, refinancing ability etc... and THEN when you have those numbers, you may be smart to hold and rent the unit out. I know it may not be what you want to hear but, if your numbers are okay, it is a better thing in the long run.
Sure you can spend money staging a home, but if your upside down , your upside down. The meadows is a very nice neighborhood, and attracts a lot of tennis people, I would think you can rent it and cover if not all then most of your monthly nut. Just my opinion.