Looks like prices in Wilmington have bottomed or are starting to rise. Not sure of long term, but most folks are optimistic. I think a strategy adjustment on renting to buy you some time. Then sell when you can get out without having to do a short sale.
The home can be for sale at the same time that it is rented, but renters will be nervous that you will sell during the agreement leading to more challenges in renting.
Note that I do not represent renters, but can put you in the right direction.