Seller financing works best if there's no existing mortgage on it. 

These incorrect taxes are impacting our ability to get loans to do renovations on our existing properties (although the properties have plenty of equity). 

Like who do hire to ask about building code and regulations, opportunities for 1st time home buyers, etc.

The reason I mention this is that about 80% of startup businesses fail each year.Many dream of opening a business but have never ran one day to day so the ideals they have of what they think it will be do not usually match up to the realities.It's a great idea for anyone wanting to start up a business to shadow an existing owner in the field to see if it is really what they want to do.  

@Andrew Dodds, the way I read what Amber and Chris wrote, you could treat your $181k remaining VA entitlement as if it was a HELOC (like having existing equity), which should more than cover the required deposit that you might need for your next $500k home.Of course, your Non-VA Lender will go through your Debt-To-Income Ratio with a fine tooth comb, so depending on how much Rent they allow you to allocate towards your income, you could be good to go!

Maybe I can buy the house via sub2 existing mortgage and only out of pocket is back taxes, maybe I can buy the house at a steep discount etc. 

I have worked with smaller builders for the last three years who build on lots in existing neighboorhoods.

Actual Terms of the existing loanActual RE TaxesActual Insurance Costs...so forth and so onI would venture a guess, that it would be challenging to find a rental that could produce this return, in the same time frame. 

I am actually looking at purchasing an existing business with some room for expansion similar to what you described above.

If other numbers look alright and property is in a good area then someone might take title subject to existing financing.