There is no reason people can't simply say what these folks are, "an investor you know"  Don't blow smoke and BS at a seller. 

The more ethical GCs will simply say they are too busy instead of charging insane overheads ( I’ve seen some crazy bids before).

The investor would be a passive manager, and we would split the profits 50/50.In this scenario, would it make more sense to utilize the "cash out refinance" strategy (purchasing a property all cash, renting it out, getting it appraised, pulling all the equity out, and repeat) OR would simply getting multiple conventional loans be better? 

Roof leaks there's hole on one side no cabinets no appliances.

Title company gals are a good source of this stuff too as they have to deal with the day to day with builders and hear it from all sides.. of course its gossip most of the timeand then last but not least if they are building in subdivisions simply knock on the door of someone who just bought their home and ask their experiences..

I ran into that problem when I had Seattle rentals because they simply did not have the incomes to justify the debt.

You simply don't get the $50k value exemption, and don't get the 3% annual cap for assessments that owner occupants do.

I have owned a few duplexes and have recently sold two, now I have cash burning a hole in my pocket! 

Per other responses, this sounds like a lien that simply was not cancelled when it was paid. 

I've read that you are unable to agree to end the tenancy on a certain date as a condition of signing the lease, so you can't simply agree to terminate at the end of the 1 year before signing the lease.