I have an '11 Rodeo. Only had it for a few months. So far so good. You do get what you pay for as it is old style built up construction with white pine framing, fiberglass insulation and a very simple interior. It has no fuse panel, converter or battery, so it has a very rudimentary electrical system. Gray water simply drains out the back and there is no black tank since there is no toilet. I've added a Porta-Potti and carry a 5 gal container for collecting gray water if it's not polite or prudent to dump the gray on site.
That is what I wanted though. No fancy stuff means no unnecessary weight for the task at hand. Workmanship is about the same as many RV's on the market today. -Adequate, but nothing to write home about. Caveat: I've spent a lot of time in the automotive, steel and aircraft industries, so my idea of quality is quite a lot higher than that of the majority of RV folks seem to practice.
As far as being water tight, I'll be going over the entire unit this summer with a fine tooth comb and flexible sealant and upgrading a few other items to ensure water tightness.
The reason I bought it was that it was about the same cost to buy it vs. build it. Actually less $$ if I count my labor. And I got it fairly quick after ordering. I bought it without options so I can add those of my own choosing. After adding a heater and some insulation on the floor, I spent some time in it this past winter and was generally pleased.
FrancisMilker: If you are still looking at the Lariat, I would be happy to answer any questions you might have. Not only have I been at the factory in Bluff Dale, I've spent some time with this thing and have already done some retrofitting. At this point, I wouldn't discourage anyone from buying one, but you do have to understand what you're buying. For someone who wants a simple, lightweight camper with a full size shower, it's a good bargain.
Rocky
correction:typos