love xoxo....why are you applying ED if you are SO concerned about financial aid? Seems to me that you would want multiple financial aid options and acceptances to compare so that you can get the best value for your educational dollar. If you apply ED, you will have your ED acceptance and financial aid...and that's it. If you apply RD to several schools, you may find that your offers will vary and some will be higher than others....because for institutional methodology, the SCHOOLS determine how they will use the assets (including real estate) that you have. Columbia also requires the CSS Profile for the disbursement of financial aid. It asks many many more questions about financial assets than the FAFSA. The rental property values will need to be listed on there as well.