boisepark: You would also probably benefit from a separate thread, so other posters can suggest ways to legally structure your assets and give you the benefit of their actual experiences with these schools.
If the 140K is in retirement accounts, for example, the Profile schools probably would not count it as much (or at all for FAFSA). You don't say what your home equity amount is, modest means different things in different locations, but that could be a factor for Profile schools but it's difficult to say because they use their own methodology. Finally, your income alone would likely produce an EFC over any federal/state need-based limits, unless you have alot of dependents or pre-AGI adjustments, and MIT's income limit for free tuition is $75K, right?
I'd also recommend a book called "Paying for College Without Going Broke", also some strategies here:
FinAid | Financial Aid Applications | Maximizing Your Aid Eligibility