Opportunities are increasing for investors that are willing to write offers and have cash.I think unemployment will be an indicator of how the real estate market does in the next several years.

You may have to wait a few months though, as it looks like their 203k program is currently suspended due to the COVID-19 health crisis.My guess is, RI Housing doesn't know for sure because they are just administering the program and may not make the final decision, or it's just a case that comes up rarely enough that they're not sure how their underwriting models will score you.The FHA site does indicate that self-employed loans are potentially do-able, which may be why you're asking, and I even found an indication that it may have gotten easier recently, but again, it's just speculation until you can force them to make a decision by actually applying.In the meantime, do what you can to get your documentation in order as you would for any mortgage application of course.For instance, if you haven't filed your 2019 taxes yet (I haven't done mine either 😭) now would be a great time to do it since they can't accept applications anyway.

The reality is, my credit report isn't very indicative of my ownership of rental units since I only have 1 regular mortgage.

As far as the deceased spouse, does the deed indicate tenants in common?

I’m speaking with the our loan officer, he indicated it will be difficult because the debt load from My first investment in CA isn’t split three ways according to underwriters.

You're best bet is a savvy property manager in the area, but if you're looking to not use that service, then I'll share the other tools I use to assess rent values:- Rentometer -- gives me a good basis of "rent comps" in an area that I can do further research on and determine if the indicated value range of rents is true for my property.- Zillow Rentals -- this may of may not be true in all markets, but in my market over the past 4 moths the rental Zestimate has become remarkable useful for most cases

The comments above indicating that it's really dependent on your market are very, very true - it would be wise to consider that during your renovations. 

I've noticed that a lot of the time they only vet you and doesn't really give you an indication if they are the real deal.  

He indicated to me that they want to get rid of the property.

The better indicator is the locality growing?