Heat oil in a large saucepan over medium-high heat.
Add onion and potato and cook, stirring often, until the onion is slightly softened, about 4 minutes. Add garlic, chili seasoning and salt and cook, stirring constantly, until fragrant, about 30 seconds. Add water, bring to a simmer, cover, reduce heat to maintain a gentle simmer and cook until the potato is tender, 10 to 12 minutes.
Add beans, tomatoes and lime juice; increase heat to high and return to a simmer, stirring often. Reduce heat to maintain a simmer and cook until slightly reduced, about 4 minutes.