The best thing you can do for this dog to prevent behavioral problems is to be proactive.
There are a lot of resources we can recommend (so let us know if you are looking for something specific) but the most important thing for you to do is identify potential problems and work on them from day one - before they become problems.
As subado said, here that is going to be gastro issues, guarding, sharkyness, and (given the slouch on the parents) I'm going to add hip/joint problems.
I noticed the health guarantee is only for one year and is for a replacement dog (unfortunately, red flags - and corroborated by some of the negative reviews) but putting your dog on a joint supplement early and being cognoscente of not over-exercising them on pavement is still going to be important. Pain is a huge factor for reactivity, and one I find that gets often overlooked.
The gastro is something you can do more research on. There are many different ideas about "ideal diet" but regardless of the food itself, I am a big proponent of feeding dogs for working. That means meals are given for training sessions or in puzzle toys. Both stimulate the dog's mind (essential for more driven breeds) but they also prevent the dog from ever gulping down their food and are an excellent way to prevent bloat.
EPI is scary business. My border collie gave us a right scare this year when he developed it and we couldn't diagnose him, so know the signs.
Guarding? Start socializing him as soon as he comes home. One mistake people tend to make though with socialization is quantity over quality. Make sure he gets to meet lots of other dogs and people, but also make sure they are the right kind.
Either other puppies his age and activity level (super great for burning excess energy and bite control), adult dogs that still have a little play in them, but will gently (but firmly) tell him off if he goes too far.
Dog parks are over-rated, there is almost always one dog there who shouldn't be. You're better off setting up play dates with friends or even folks you find on the net until you have a good read on your boy's personality and you feel confident removing him from a less than ideal situation. I don't want to scare you, and most dogs are fairly resilient, but a profoundly negative experience, especially in youth, can take months or even years to rectify. Just be mindful, and I'm sure you'll be ok.
Friends and family willing to help you with training. Lots of practice of people coming over to the house. Reward him for calm behavior when he sees people walking by outside (actually, when you arren't around it's best if he can't window-watch the street, this has a high tendency to cause barrier frustration) the door gets knocked, when people come inside, when they sit down and chat with you. They can reward him with food or loves, or a favorite toy can come out for them to play with (that maybe he only gets when people come over). Whatever he seems to like (it's also important not to "reward" dogs with things they don't like - like vigorous pats on the head-face). Teach him early that people coming to the house = awesome.
When you are out and about, try to keep social interactions when they happen brief and low stakes. Walk by strangers and, if your pup seems to want to greet them, ask if they would like to give your boy a treat. If he's cuddly, and solicits affection, they can pat him, but if it's just a casual interest, don't force him to interact. Just a quick reward and back to your walk.
Avoid walking him on leash directly up to another dog (this is fairly rude in dog social circles) and avoid letting dogs greet on leash. Many dogs become reactive when this happens (other dogs that have learned to find it threatening) and could snap at your boy. That could be fine, or it could make him uncomfortable, so just be mindful.
As for mouthing? Be consistent with how you work on this. Tab289 has a great video. When teeth touch skin, the game is over (for 30 seconds to a minute). If he keeps going after you, you remove yourself from the room until he calms down. When he's cooled off? YAY good boy, let's play some more.
Many people advocate yelping like a puppy, but my experience is that this makes puppies more excited, even if it startles them for a second. I like a calm "whoops" and the game stops - make yourself totally unexciting.
Also, make sure he has lots of awesome things around for him to get his shew on with - so that he can satiate that drive. Here's where those puzzle toys come in handy again.
As a parting note, I highly recommend checking out the calming signals sticky. Having a solid understanding of dog social signals will go a long way in helping you prevent reactive behavior, because you will see the nervousness and can address it at that stage, rather than the escalation (which is what most people notice first).