I don't have experience with that brand,but the Rock Islands are in the same range and appear to be pretty good base guns.The biggest factor is going to be the machining of the frame and slide,if dimentioned correctly it will make a good base as long as material and heat treaiong are good.
Be aware that 1911s are not AR15s,nothing drops in.There are parts that will drop in,but you also have to know if it's correct.Drop in trigger packages do drop in,but some also go full auto or the hammer drops to 1/2 cock shortly after.A drop in "match grade" barrel may shoot worse than the original.I also wouldn't buy parts from cross manuacturers outside of the semi-customs like Brown,Wilson,etc.These are generally on the large side to fit to individual guns because different makers set their own specs,they all don't stick to the original 1911 prints.
If you are going to do this,buy the gun of course and shoot it.Get both of Kunhausen's books and search out good data to expand on that knowledge,and study those with the gun.They are a simple gun,but there's alot going on that just doesn't jump out and you see.Something like a simple trigger swap has failed and caused hammer drop and full auto.It's a simple part,you fit the shoe to go through the frame slot and there's a bow that surrounds the mag to get back to the lockwork,make it slide in the frame freely without binding and you're done.Now your hammer drops or you get full auto or burst fire,"?".There's more than meets the eye,so learn the gun first.
For parts,Brownells and Midway are very good sources,along with a few true custom makers.EGW doesn't build guns any more but they make some of the best parts in the buisness.