Should I let my portfolio go up for foreclosure?

[John Kelp]

Long story short , didn’t do my due diligence . Purchased not one but two properties from a foreclosure with no title search . Comes to find out each property has a mortgage. Combined with the price I paid through the auction, they are much higher than market value

property 1: paid 100k, owe 170k. Worth 200k. Rent is 1800 and HOA is 400

property 2: paid 280, owe 370, worth 500. Rent is 3500, HOA is 1500.

I have a lawyer negotiating with the lenders currently.

what would you do if you were in this situation? Buy out the properties mortgages and sell it for a loss and try to minimize the total loss? Or rent out, refinance , and recoup money else where knowing what I know now . I used cash for these properties . I’m open to ANY idea . 

location: southern Florida.

[Benjamin Aaker]

Sorry to hear this happened. I'm sure you are already beating yourself up about not doing the background work. Don't let it stop you from investing in the future.
in the meantime, how much personal cash flow do you have to pay the mortgages? Can you make the payments on the mortgages while renting, even though you are under water? If you intended to keep them long-term, it doesn't really matter what their market value is right now. You probably don't have a second mortgage otherwise the second bank would have discovered the first mortgages (perhaps what happened here?). Good idea with the attorney working with the lenders. You might be able to restructure the loans due to this hardship.