A third method is the “rent to own” program where you rent the property to someone with a portion of the rent going toward a down payment – after a period of time you have receive your down payment and now you carry the paper for the buyer.

You have more than gotten your money out of the property through rent and the down payment and still have an interest in the property.

Another prospective method of disposing of the property is to donate the property. You need to talk with your accountant about this, but it would seem to me that you can probably get credit for the market value of the property when making a donation.

Somebody like Habitat for Humanity would love to receive the property (as a side note, Habitat for Humanity has been a bidder at a number of tax sales that I have attended).

I am not a tax expert and I would assume that you would have to get an independent appraisal for the value of the property, but it might be a very nice donation on an after tax basis, if you have the need for a write off.