You have majority interest and nominate yourself as managing member.  

I would love to pass them along for a nominal fee

I'm not suggesting on day 1, or day 2, or after nominal work has been done. 

But there are a ton of good Property Managers that can handle more than 90% of your workload for a nominal fee AND do it better than you do.

The recent FMOC rate increases, and the fact that there is a lower inventory of houses available for sale has pushed nominal houses prices up, causing real purchasing power adjusted house prices to surge in December.

Provide updated financials, get an updated appraisal, and sign a short renewal/modification agreement (there's usually a nominal renewal fee as well).

She is open to transferring it over for no fee or nominal option fee.  

This allows an investment with a lower nominal rate of compound interest to look superior.

The fire & hazard insurance would be paid by you directly to the insurance company.Other than perhaps an appraisal fee that would go directly to the appraiser, or a very nominal credit check fee, there is no reason to ever pay any upfront fee to a private lender.

Continue as is, refi and buy more, use the equity as collateral for your 20% and buy more with nominal out of pocket cash, take some of your excess cash and make short term high interests hard money loans, cash out and go buy an island in the caribbean, etc.