Overseas living and managing rentals FEIE

[Judd Campbell]

Been gone a long time from the forums, 

Hoping someone with tax expertise could help me here.  

My wife and I have 16 rental units in Kentucky and although we have an on the ground handyman we mange financial things remotely.  

We are living in Phuket Thailand currently and this year I utilized the Foreign Earned Income Exclusion to not pay taxes on the first 120k of income.  any income over that which is a combination of W2 and rental income is subject to taxes starting at zero.  so this eliminates taxes on the TOP end of income.  (if I made $200k I would be taxes on 80k after taking the standard deduction and child tax credits, etc.  no AMT or anything.  

Also, I have a 10 year visa for Thailand which excludes me from paying any taxes on income or wealth here in Thailand.  so no local taxes. 

The question is, my wife and I are both able to take the FEIE if we are both working.  My W2 income takes all my FEIE, can I have our rental property business expense her management at $100k?  this would have the rentals break even on my income, and her 100k of income would be untaxed under the FEIE.  

is this possible?  She and I jointly own about 10 units while the rest are under my name.  No leverage, not much in the way of repairs as they are all rehabbed with long term tenants.  Low cost basis so the depreciation is not high.