Is there a statute of limitation for the sale of a home?

Perhaps there is some local statute that applies, but in my experience, if an owner cannot afford to make repairs, it is simply a "constructive eviction" situation and the tenants need to move out.

From my understanding, all judgments are liens, but not all liens are judgments.In Illinois, for instance, if there is a senior mortgage and a junior mortgage (junior because it was recorded after the first), the senior mortgage gets paid first at auction, and then anything left over goes to the junior mortgage, and any subsequent liens on the property.Judgments in Illinois can only last 7 years before they have to be renewed, and then they can only be renewed once according to the statute of limitation.

Dodd-Frank, I don't believe uses the words "lease-option financing" what you will find is that the DF encompasses the SAFE Act and establishes authority over any consumer RE transaction that is designed, intended to or facilitates the transfer of title in a 1-4 family dwelling by doing so.You will be very busy looking up the statutes that have been modified, adopted or the recension of regulations, going back to 1938 that I noticed.Much of this stuff lies in definitions, you can't just read the word "make" or "makes" or "maker" of a financial obligation and assume it means the same thing as a car maker or one who makes cookies, the English word has different applications.

Arizona Revised Statutes, Section 33-742 stipulates a forfeiture process (that is much different than a judicial foreclosure process) that is followed with most land contracts.

PM me sometime and we'll compare notes and statutes.

This should be a (nearly) first resort, not a last resort.If an investor doesn't want to pay, don't play nice...file a lien and get to court as quickly as possible so he doesn't sell the property under you or drag it out past the statute of limitations.

At best, your rehabber buddy is confusing owner occupant purchase mortgages being non recourse, as per CA statutes.  

Washington has a six year statute of limitations for enforcing unpaid debt.

Any CC&R that conflicts with statute or ordinance won't be enforceable.