They are communicating with the Asset Manager and the Field Service Manager. 

the purchase price would be the stepped-up cost of the asset. with this, she would only pay tax on the interest earned, correct? 

Whether or not the asset appreciates in 25 years I still have a paid off building.The risk is if the asset declines in value AND you have to sell it for some reason.

So it sounds like you both are playing with low value assets.

If they're in the same state, that will make your legal team more streamlined, but otherwise, you have to form all new vendor teams when assets are scattered across multiple MSAs & states.

My wife and I have created a revocable trust, and I am wondering if I should be putting our rental property into this along with the rest of our assets.

I know some mentioned about developing banking relationships and I totally agree with that, so here is what you do. 1) Open a business checking account in the name of your LLC to hold the assets. 2) Deposit your cash into that account to fund the real estate purchases3) After owning for 60-90 days, talk with a local lender about a line of credit against the 2 properties at 60% LTV. 4) After about 30-45 days, have the line open to use if you need that liquidity that you used, but until then you are not paying 7% interest on nothing. 

You need to protect assets from lawsuits or creditors. 

.$34.99 - Gourmia 6-Qt Digital Window Air Fryer with 12 Presets - https://www.target.com/p/gourmia-6-qt-digital-window-air-fry...Every STR should have an air fryer.

Something to consider is to convert the pre-tax funds/assets to Roth so you have tax free atm withdrawals at retirement.