You can ask for a special circumstances consideration to have the rental property removed if it is your source of income. Some schools might do that. Others won’t.
In terms of the equity in your primary residence, you won’t be able to get that excluded for schools that use primary home equity.
What you are asking is that schools give you need based aid and ignore that you own these two pieces of property. Basically you want aid to preserve your properties. Most families don’t have this type of equity or own two homes. Many colleges will not adjust your aid. But ask.
In your case, it would be best to look for colleges for your student where that student would get merit aid. Merit aid does not have anything to do with your family finances.