Note transfer of ownership - How long does it take?

[Michael Whillock]

I am fairly new to note investing and interested in purchasing notes. Most of the advice points to purchasing a performing note first before moving into NPLs. That makes sense and seems like a good approach to get more familiar with the investment. So, while I am interested in NPLs down the line, I would probably start with a performing note initially.

Assuming you have identified a note to buy (which I haven't yet) and performed due diligence, how long does it typically take to transfer title of the note and start receiving payments?