I agree with the below responses. Possibly not a scam because of management companies was my first optimistic thought. However, with all the forclosures and fraudulent stuff going on, I agree with you having reason to be skeptical, Chelley. We have seen on this forum that tenants are being evicted because they paid their rent but the owner didn't pay the mortgage. When people are in financial ruin, they get desperate and do things they might not otherwise do. What good is a rental agreement with a theft?
I'd check with your court house to see if the builder or current owner have any bankruptcies, lawsuits or foreclosures on their records. I would also ask the builder what the situation is. If he is acting as a management company, you could always ask to see his management agreement to give you piece of mind.
Good luck and let us know what happens.