Partials, partials, partials...

[Nehemias Ponce]

Hi everyone! I am at least ankle deep (but more like knee deep!) in my education in note investing. I am interested in dipping my toes in by perhaps buying a partial. I have up to $10,000 to begin with, and from what I can gather that is not a good starting point for purchasing a full note. That being so, what is the basic structure for buying a partial? 

For example, if I buy a group of payments; do I have to wait for those payment numbers to arrive before I get paid back for them?

If so, why would someone buy the last 5 years of payments on a 30 year note?  

Thank you all so much for your help!

-Nehemias