Banks often will put "overlays" on top of conventional lending rules to lessen their risk...aka lend less money.  

.- Wife does not work, but she may have a part time job soon, about 13k/yr gross- Currently $18,000 savings and ability to save more- 1.5 yrs credit history, FICO score is 747- Central valley CA areaEven better, I have a family member (Grandmother) who has been successful in real estate and has been giving me what I would consider "early inheritence" for the past couple years, hence my savings.

It seems that renting would be more lucrative for cash flow and we would only have to manage one home- but we would have to finance another house for our primary home which would lessen the cash flow.

In the mean time my cash flow from my primary source has lessened so I'm not able to make another cash purchase for more properties.

As far as the inherited tenant(s) go, I would ask to see current signed lease(s) and read through them.

I recently inherited a house in nj it's on ground which is not the norm since hurricane sandy, most houses are on stilts.

One of my concerns is inheriting bad tenants, or not getting an accurate payment history from the seller. 

I think I have been too easy on them at this point after inheriting 3 of the 4 and was told how he would collect 1/2 rent in cash and the rest in check later so it's the retraining that I'm currently working on.

I inherited a current tenant, and remodeled the other (vacated) side.

I have seen my share of trustfunders crippled by guaranteed income, and I do not want my children counting on inheritance.