[McLovin]

Whether there is drama or not depends on the numbers.

If the total monthly expenses for the house (mortgage, property tax, maintenance, property management fees, association fees, etc.) is $2K, and you can rent it for roughly $2K, that's easy.

If the total monthly expenses for the house are $4K+ and the house can rent for $1,500, that gets a little more dramatic. Esp. since the value of the house isn't going up in the next half decade or longer (and in fact will probably continue to decline for some time). And even more esp. if you simply don't have the resources to continue throwing thousands of dollars a month into a declining value house, for years and years.

Expenses add up. My guess is the NJ property tax on that house is $1K or more, per month.

There's a reason why millions of houses are going back to the banks.