It will be quicker I am assuming and will save money on my construction loan interest as a result but want to hear some other thoughts from others with more experience with new builds.for some context I am in Dutchess county ny, property has public sewer/water. 

Needs all new cabintry, windows, doors, roof (has some life left), fixtures, fencing, some electrical and plumbing changes, and some framing/drywall due to termite damaged sill plate in areas.

I have lost a lot more $$$ to tenant damage than to unpaid rent.  

My lease requires renter's insurance which should cover loss of use if the unit becomes damaged/uninhabitable, but I don't think renters insurance covers costs of living expenses incurred during just an evacuation.

My principal/interest, escrow, and insurance is 1570, and my HOA is 306 and it includes water.

Side note; if you google 46218 the only photo that shows up is a gross water damaged basement. 

I underestimated utilities in my early years, so I ensure those are properly captured (electricity, gas, water and trash).

No damage from any pets yet and you may even charge a pet fee as well. 

He doesn't have to worry about a rough needing replaced or a tenant causing $20k in damages after one year living in property.  

@Martti Eckert here's the big issue that no one really talks about that you hopefully find helpful (this is copy & pasted):-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?