However, If it is for your son Check and see with an attorney if you decline to inherit it and let it it go to your son who I presume will be in a lower tax bracket. 

Account Closed I think it depends on what your comfort level is as well as your experience/background.

But I’m trying to get a higher ARV house to fix and flip so that I can buy those lower end houses with my own capital and then rent them out.

I can read and learn the real estate concepts with no fear of complexity since it isnt near the level of abstraction I was working with plus I can test it all out in the field more easily with a money incentive.Too young to buy houses even for you to live in?

I lowered my credit requirements after the first couple of years and began to feel like credit may be why they rent houses for more than mortgage payments would be.

Each state has it' own insurance commissioner.You probably heard this hullabaloo about selling insurance across state lines to lower costs of Obamacare.

Would you do 2 level townhouses/row houses or flats with one family living above the other.

Cash on cash ends up being lower when getting one of these mortgages.And you can’t beat these rates when you have a Solo401K where you can only use non-recourse loans.Mark

Is there anything else I should do to lower my initial risk?

I think the other factor is relative cheap entry level for home owners or investors.