I'm leaning towards traditional lending withh the new home builder because they're offering 5.5-5.99% interest rate. 

You can buy title insurance anyway, without conveying the property, so that's an alternative.

Because state laws vary widely, my first thought is to talk with a title insurance underwriter in your state to see the requirements for insurable title on a tax deed.Quiet title may not happen "automatically".

Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.

My payment is $1000 with around $300 to tax and insurance.

Detroit offers way more than MS!

I really do value your opinions and appreciate any feedback you can offer. 

Our current insurer only writes policies for < $1M. 

Agree that insurance is an issue. 

They are currently in stage 3 of the development and are offering 10k incentives Builder and 2% Seller(towards buying down the interest or closing cost), home comes with warranty and appliances.