The Price of a Note?

[Ross Ellington]

Hey, good evening BP! I was wondering if the purchase of a note was anything like the purchase of a house? Meaning is their a type of payment plan or is it paid in cash for the note. Also, is there any science to price amount when looking at a 1st or 2nd position note. With SFHs for example you can use comps, square foot, and  other things to kind of gauge what you wanna pay. How is it with notes that you can gauge what you wanna pay. Any advice or feedback would be much appreciated. The more you guys respond the more I learn. Thank you and have a wonderful night :)