Buying 2nd position lien with missing note

[Bob Jaeger]

So I’ve come across a gentleman who has recorded several second position liens on various properties but can not locate the actual notes. It’s my understanding that this isn’t unheard of but looking for some direction on if it’s out of the question to get involved with? I realize there are many factors that play into the value of the situation but I’m not clear on a missing note is a deal breaker. Thanks in advance for sharing. Bob