But, he has no ability to take any corrective action he feels is necessary or beneficial.  

Which do you feel has better returns short term and long term?

Just up your insurance to an amount that makes you feel comfortable.Do recommend getting a HELOC on the house BEFORE you move, so you can tap the equity in case of EMERGENCY only:)

Feel free to ask anything, anytime.Cheers!

However, the loan would need to be under my name, as they won’t allow LLCs.I’ve received advice from others who feel comfortable with this arrangement as long as they have high insurance coverage limits, which the lender also recommended.

Feel free to ask anything, anytime.Cheers!

If and when you need to start exploring different loan options feel free to ask any questions. 

I can appreciate that advise but being a Realtor and and My Dad being an master electrician (with a much broader knowledge base that goes more into being a GC without a license - and no we won't use him as an unlicensed GC) I feel pretty confident that we can do our first flip and be successful.

Feel free to reach out to me with your questions. 

Feel free to adjust the numbers based on your expectations for capex or vacancy rates.