How much equity do you have in this rental property? Also, what is the rental income for the year…because that factors into aid also.
Can you afford the instate costs for any of the CA public universities? You are fortunate to have so many good choices in CA.
Also. Any chance your college bound student has high grades and a high SAT or ACT score? If so, perhaps you should look at colleges where she might be offered significant merit aid. Merit aid (in most cases) does not factor in income or assets, and this could really benefit you…if your student qualifies.
It looks like your daughter is applying to Cal. If she has a sufficient GPA for that school, and money is a factor, you might want to look at Arizona or New Mexico where your costs to attend should be more reasonable than even instate costs for the CA publics.