Tom,
What type of rig are you pulling this with?
I set up tandem axle trailers with 275 gallon tanks and rarely do we ever pull them full. You are talking nearly twice that.
Let's say for instance you have a 500 gallon tank full of water. That's 500gal. x 8.34lbs per gallon = 4,170 pounds in the tank alone. Lets assume the tank weighs in at 100 pounds. This is 4270 pounds with the water tank alone.
If you have a tandem, I will assume you have 3500 lb axles. With this in mind your towing capacity or rating with the trailer itself is a maximum of 7000 lbs (2 5/16" ball). A 2" ball I think is a 5000 max. So with all this in mind and you are trying to distribute the weight correctly... you must consider the weight of the trailer. A typical 7x14 Weighs in at roughly 1800 lbs. Add that to the 4270 (payload of tank) and you have 6070 lbs.
A hot pressure washer will usually weigh about 600-800 lbs and then include the fuel on top of that and you don't have enough for hoses or hose reels. You've passed the payload limit of the trailer.
What else do you have in this trailer? Shelving, chemicals, ladders, etc. Where is all this going?
When you set a trailer up they suggest 60% of the weight towards the front and 40% on rear. There is no way for you to center the weight both loaded and empty with 500 gallons. It's simply too much for your average trailer pulling with your average truck. When it's full you'll simply be way overweight and could be very dangerous. If you are empty, you'll be too heavy in the rear.
The most logical answer for me to give you... considering that I do this for a living, would be to dump the 500 gallon tank or just use it on the job and pull it empty at all times. I set these things up for a living and have been for quite some time. I would not recommend 500 gallons to be towed down the road in a trailer behind a truck, unless you had the right equipment.
What is the towing capacity of your truck or whatever you intend on towing this with? If you cannot find that answer, look inside your door where the white sticker is and let me know what the GVWR says. Your manual will show you the towing capacity or you could give me the make, model, and year and I will get that for you.
Setting up trailers can be very tricky and very time consuming and everything must be calculated, including the hose. Everything you add to the trailer has a weight so keep this in mind.
If I can be of further assistance, please feel free to email me. One other thing. I set mine up with the tank forward and the machine towards the back, both over the axles. Still don't recommend pulling 275 gallons full.
That's my 2 cents worth.