Wouldnt they recognize that only allowing for cash buyers would severely limit the buyer pool, property value, and ultimately could hinder the sale?

When the title company searches by address they will only find a single Tax ID and run their search (and obtain lien cert, etc.) only on that single parcel.Based upon the limited facts here, in my opinion any liability would be on the seller and listing broker for failing to include parcel information in the contract.

Or are you investing into a syndication as a limited partner / non-managing member?

Answers that "danced around" questions regarding previous dispossessory filings/evictions often shown (through online checks) that this person had a number of these.I'm assuming your screening will not be limited to just what this person put down on the application. 

Taking the limited route of using just one strategy means you would be missing out on at least 90% of your potential deals, and in the end you would start forcing your strategy onto properties that you have no business doing...then rationalizing that you did a good thing.One trick ponies lose more than they could ever gain.

there is usually a limit to how long they will pay out (eg 1 year) while it is rebuilt/repaired.  

I have 3 credit cards with a total limit of $4,500.

The LL in LLC means "limited liability". 

Is this something that could be profitable or are the costs too great for the limited amount of time I would be able to put in?

Don’t limit yourself.