Welcome to the Forum Jacob!

I know there are a lot of threads here pertaining to short sales. But maybe you can answer a question for me now..

I have a rental property that is an absolute drain in my finances. I have tenants who pay about $925 a month and my rental management company gets 10% of that.. then the mortgage costs about $770 so I'm left with about $70 after all expenses are paid.

However.. the house is old and the tenants have needed many things repaired (at great expense) over the last few years. So my total gain/loss is in the red. There was a time when this house was jeopardizing my current home as well, but we made it through somehow.

I'm really looking to get out from under this rental house.. can a short sale help me if the buyer is looking to buy a rental property with tenants already in it... or do I need to wait and tell the tenants that next year we will NOT renew, and then try a short sale?

Thanks!

big hugs