My wife intends to take a regular W2 job.

The properties are tenanted, cash flowing, and professionally managed by the same people.Even just using the above criteria, you'll weed out 90% of the ones claiming to be "turnkey."

I have several attorneys I work with regularly here in the Chicago area who would give you a quick email answer for free.

It would be different than your regular homeowner's policy, for the property that is your residence.

On a macro level, it's important that people can dispute fraudulent payments, because fraud happens, so it's not an inherently bad thing that banks support a payer's ability to dispute a claim.

How do I find out an ARV or market value, because the regular channels for comps are not going to accommodate this type of structure.

Her sisters signed what was probably a Quit Claim Deed.

For instance, my credit score for obtaining mortgages are 760, but my "regular" credit score that is commonly used for credit cards etc is only 730.

And the issue would still be I need the property to be rental so I can claim the expenses, but that brings me back to the problem of not being able to use the GoE with investment/rental properties.  

Military often have higher turn over as they get deployed to other locations fairly regularly.