If she specializes in large, joint venture type of commercial REI transactions, she may not be as familiar with the asset protection issues individuals are concerned about. 

Would the best and simplest type of structure be a joint venture?

@Nicholas Rella, The only way a 1031 exchange would work would be if the LLC was a multi-member LLC that you do not own more than 50% of (your wife cannot own the other 50% if you file a joint tax return). 

I think a Ch. 13 filing may actually be worse by allowing two points for default before a foreclosure sale, but please correct me if that is wrong.Thanks for any info!

Traditional banks to some extent offer invoice payment through online BillPay, ACH etc., but none of them to offer rent collection features.  

I will withdraw set amount from my joint account with PM.

If you estimate you'll net about $100k in gain, then you can take that tax-free under Sec 121 (the rule is $250k for a single person $500k for a married couple filling jointly).

A joint application can show a bigger impact and a more comprehensive approach to community needs which makes the application more attractive to grant funders.Boost your application with endorsements and advocacy by soliciting letters of support from industry experts, community leaders or other stakeholders who can vouch for the credibility and importance of your project or business.Follow Up and Stay EngagedFollow up on your submission to confirm that they received it.

A "perfect" return for the 0% tax would be (assuming married filing jointly (MFJ)) a $109,250 Adjusted gross Income and $83,350 in capital gains.

I do not believe in the utility of complex corporate structures (at least more complex than the parent LLC/Partnership that my wife and I jointly own which in turn owns multiple single-member LLCs (disregarded) as a risk mitigation practice AND allows for easy 1031 movement between entities as the end taxpayer is the same (the partnership.)