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.

read your state statutes, the statute no. is probably referenced in those forms, and you'll understand the process and time lines.  

At least in Idaho it is much simpler than most think.Best of luck, and feel free to reach out if you have any other questionsMy phone doesn’t seem to like the website so I am unsure if my private message went through to you however, I am curious if those are state statutes or real estate regulations for the state of Idaho. 

WY has recently adopted series LLC statutes and it is a great asset protection jurisdiction to establish one.

Since the title company has no way of knowing if the foreclosure was handled in compliance with all pertinent statutes, doesn’t know if all relevant parties were provided proper notice, and may not even know the potential claims concerning previous transfers ( many people about to lose their real property for an IRS lien begin to do a serious of title transfers to try to frustrate the process), they realize that the title policy fee is t worth the potential liability.In the old days, there were some independent, small insurers who would take the riskier policies.

Now, there are about 10 different ways to interpret most statutes, and there do not seem to be any judicial decisions on this statute that would offer any guidance as to whether a wholesaler constitutes a "real estate broker."