Water based seems to take longer to tack-up than solvent based glues. The Renia is a popular glue but I don't like it at all. I really tried to like it, I've experimented with it in a lot of applications. I seem to always get those gummy snot boogers. Apply a thin coat to both sides and wait until it dries then assemble. No telling how long of time, maybe 10-20 minutes? Another thing I don't like is that it is thin and seems to run all over the place. It is difficult to clean off a glue spreader and I'm always getting it on my fingers.
The best advice is, rather than asking us, experiment with it yourself.