Should I rent or walk? Condo is under water and I need to move for work.I purchased a condo in Atlanta in 2005. It's a condo I originally paid 110k for. I currently owe 79k at an interest rate of 6.5%. I have an HOA fee (I will never have another home with an HOA) that goes along with this that is $208 a month. I tried to sell it for most of 2010 with no luck due to all the forclosures and short sales in the neighborhood. Most go for around 45k. I'm in a situation where I need to move to find work because I'm barely getting by currently on freelance jobs that take up my life 6 days a week. My first instinct was to rent. The HOA has a waiting list of 25 people ahead of me, so I asked for a hardship. They granted it to me, but only for a short period of time, with no guarantee I'll be able to rent after 1 year. I don't have much extra money though currently with student loans that I'm still paying and I would be in a bind financially if something happened while tenants are living there. That scares me. The amount of money I would make from renting the place would be enough to cover the monthly bills with maybe $50 left over.Being that I owe 79k and the places in the complex are currently going for 45-50k, I don't see this property recovering in the next 2-3 years. Between dealing with the HOA and the property being under water, am I waisting my time trying to hold on to this property when I need to be in another city where there are better jobs and more work? I went to NYC last year for a few months to test the waters and wound up with some really nice contract jobs. I want to head back up there permanently. Deed in Lieu of foreclosure?Foreclosure?I have been going over this stuff in my head constantly. I'm simply looking for another voice to tell me if I'm crazy or not.Thanks,MattNovember 25 2012 - Atlanta00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.