How to do Rough Edits (Trimming) with out Rendering?

I am new to video editing. Most of my experience is in audio mixing and mastering. If you've used one DAW you've used them all. I want to know how to do something similar to what can be done in Adobe Audition.
I used to be able to import a file, say a .wav file, throw it in multitrack view or edit view. In edit view I can edit the original imported file, trim, splice, tweak and then save it raw as the same file it was when it was imported, as a .wav.
How do I do this with video? I am making a documentary and I have so much footage already. My brother is doing the bulk of the real editing, all I want to do is cut up the interview in these files to the little sound bites that I want to keep for the documentary, this will make the entire process go a lot faster.
I am using .MTS and .MP4 files if that makes a difference.
Thanks

Great tips man! Thanks a lot that cleared up a lot of my question, but I still have a few.
So first off, your saying keep the .MTS and the .MP4 as they are, import them into PP and save the sequence, send the sequence with the files to my brother and they will open up for him already trimmed down to my liking - I get that. Here is my question.
If for instance, I have one interview that has multiple segments that I want to use, do I import it multiple times? Or do I cut, trim and seperate?
Also, When opening up PP, which templete do you recommend for this endevour? If the raw footage is mixed formats, but true HD which sequence setting do I choose? Again, it will eventually end up on YouTube.
Thanks a lot for all the input it is helping me out so much!!
PS. I am new to the PP Jargon, what is a Source Monitor? And also, when I import them an trim them up, do i do it all in one track? (Video/Audo 1) ?? Or seperate? I am not use to this kind of sequence, especially on such a small monitor I am more used to Music Mixing in Pro Tools and what not. Thanks again!

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