If you raise the flop and bet the turn, you can often check behind on the river here. Raising the flop is cheaper than raising the turn, and it makes it more likely you'll get to showdown I'd guess. You probably get more fold equity out of waiting to raise the turn, but you also give your opponent another chance to make a hand.

Folding this river is probably correct after he calls your turn raise and bets the river. I would probably call on a blank river card though.