2010 rancher goes to limp mode

Bought a 2010 420 rancher with power steering needing an engine rebuild. had engine completely torn down and rebuilt by pro atv guy. Can run for about half an hour and honda goes into what I call limp mode. Will run at a low idle only till it cools down and then runs fine again. Have burped cooling system several times. Engine hot light never comes on but works, fan works and even shuts off and on when problem occurs. Is something shutting down fuel? Also sometimes when I go to start the machine the throttle is locked, takes lots of pressure to move it but then is fine? Great machine otherwise.