Just because others claim they can't be found doesn't mean they don't exist.

I don't like the restaurant business especially the larger footprint ones although you hate to repurpose with all the coolers, water and possible equipment already there.

Assume someones existing mortgage.

Let me try to answer your questions.In order to take over his loan, you will want to buy the house "subject to" the existing financing.

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Note: The funding fee may be paid from loan proceeds or cash from borrower.The following persons are exempt from paying the funding fee: Veterans receiving VA compensation for service-connected disabilities.Veterans who would be entitled to receive compensation for service- connected disabilities if they did not receive retirement pay.Veterans who are rated by VA as eligible to receive compensation as a result of pre-discharge disability examination and rating or on the basis of a pre-discharge review of existing medical evidence (including service medical and treatment records) that results in issuance of a memorandum rating.Veterans entitled to receive compensation, but who are not presently in receipt because they are on active duty.Surviving spouses of veterans who died in service or from service- connected disabilities (whether or not such surviving spouses are veterans with their own entitlement and whether or not they are using their own entitlement on the loan). source: VA Pamphlet 26-7 (Lenders Handbook)http://www.benefits.va.gov/WARMS/docs/admin26/handbook/ChapterLendersHanbookChapter8.pdfwww.VALoans.com is also a pretty good source of information regarding VA loans.  

The new legislation, which applies only to residential contracts for deed involving a serial contract-for-deed seller and an unrepresented purchaser, will not affect most contracts for deed.A companion provision amending the existing contract-for-deed injunction statute, discussed later in this article, applies to all contracts for deed and purchase agreement cancellations.

A lease option can be a variation of a subject to...Once you've taken over the existing financing, what you do with it afterwards is really up to you... fix and flip, hold, lease option, etc.I'm new, but that's the way I understand it.  

The book shows you how to develop Momentum Charts on Existing Home Sales, Building Permits, NOD, Foreclosure Sales, and interest rates.It took me several days geeking out and collecting the data, but now I just maintain the data sets and watch for patterns.

Thanks for the confirmation that subject to contingencies weren't just for existing structure purchases.