Determine financial aid impact of home or rental property?

Your other thread has some answers to this question.

http://talk.qa.collegeconfidential.com/t/most-accurate-financial-aid-calculators-edmit-tuition-tracker-college-raptor-net-price/

Most Profile schools are going to assess a portion of your equity (half a million dollars, right) as part of their calculations for institutional need based aid. IIRC the schools assessing the least or no equity are the most competitive for admissions…so your student would need to clear that bar first.