I owe more on my house than it is worth. Should I offer it up in a short sale?

My house has lost equity to the tune of almost $200k. I now owe about $40,000 more than the going rate. It is rented out, but it seems as if I am having to look for new tenants every year. I make $150 over my mortgage. Should I sell it as a short sale, or hold on to it? I am holding on to the hope that the market will eventually turn around and that my investment will too., but I don't want to lose anymore money. Please help. by laurenb_628_505 from Las Vegas, Nevada. Aug 12th 2011 Reply