Other KPIs and considerations you should evaluate when talking to any lender who offered private placement of loans/notes are historic default rate, how quickly they can place your funds (do you get preference over their income funds, for example), average interest rate - borrower note rate and what is passed through to you, are loans serviced by a 3rd party servicer or in house.

We can help if you haven't already found a place.  

And do they accept counter-bids after initial bid is placed?

You need a place to live.

If your mom is wanting to keep the note in place once the property is stabilized for personal income, I would probably cashout refi your other rental that has equity and use that cash for the rehab of the new property.

It was a great place to grow up. 

you are in the right place for learning . every day read as much as you can and soak up all the invaluable knowledge here on these posts .

We rehabbed the property for him and placed a tenant for him.

Is there a place I can buy something which will be positive cashflow (150$ at least)....?

In this case, change the locks, clean the place up, and get it rented.