New build Rental vs Remodel Rental

[Collin Maher]

Good evening all.  I am purchasing an empty lot in an touristy town in Texas with good rental rates.  I am in the middle of remodeling my first home  in the same town (an early 1900's). Originally i was going to keep this for a rental but the age of the house worries me long term.  

Im considering building a new house with the intent to use as a LTR.  I have friends that have done this and it has worked well for them but i'm wanting to appeal to a bit more of a middle to higher end renter, meaning the house would be nicer but still small (1200 SF).  The people i know have built small very basic homes and have been renting them well for the past 6-7 years with somewhat minimal repairs being needed.  

Does any one have any personal experience with pros and cons of new construction LTR?  The extra cost in new construction doesnt worry me. just the concept of building nice/new and handing it to a renter.