I owe alot more on my house than its worth. Short sale or rent it or forclosure?

I want to move. My house I owe $155k and its worth maybee 120K, should I rent it out? Short sale? if Ido a short sale and keep up on all payments till it sells, how bad would it effect my credit? I have a credit score of 721 right now and dont want it to get beat down.
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