They can NOT get traditional financing, so us financing would be the only way for them to purchase a home.We have not yet discussed purchase price. 

With our W-2 wages, is the right path to go through traditional unemployment or do we have to wait for the new Pandemic Unemployment Assistance (PUA) process for business owners and self-employed.

I been using the traditional way to acquire the properties that i own (Only three).

IMO, @Emily Snow, it does not make sense to refi your primary and pay off the rental.

As to #2 - I'd expand that to getting familiar with buying on seller financing in all its shapes and  forms: lease/options, pure options, contracts for deed, taking over payments on existing loans, wraps, traditional "seller carry back" financing.

If so, what strategy are you using (traditional, rent by the room, Airbnb, etc.) and how is it working out for you?

We'd rather go this route than a more traditional fix and flip or straight-up house hack. 

We are trying to buy our first investment (me and my husband) - a multifamily and apparently we do not qualify for a traditional loan. :( any suggestions?

I do not have 15-20% for a downpayment to traditionally buy another unit.

I would do shrubbery and some lawn care-but then you will need a service contract.Enquire with the local trades for the best products to handle changes in weather and snow removal etc.Are you going without a PM on this project?