First Real "Solo" Note Opportunity

[Jon Krachenfels]

I am looking for some advice on a note purchase for a 12 unit multi-family commercial loan. 

I purchased a few properties from a banker and recently she called and asked if I had any experience in note buying?  I explained that I negotiated the purchase of a note once but didn't have too much experience. 

That being said I wanted to know if anyone could offer some direction other than the basic, buy low, negotiate a deed in lieu or foreclose and roll the dice at the Sheriff's Sale. Then value add and sell high. 

Or am I over-complicating the opportunity? 

Any assistance would be greatly appreciated.