The point I want to reinforce is expressed well in the old Russian proverb, "measure seven times, cut once." 

This will help clarify and reinforce what you are reading.

If they don't have the rent that day, we give them our Rent Past Due Letter, which reinforces the terms of the rental agreement, our expectations, and the consequences of not being timely with rent.

Your friend will want to offer reinforced walls, built-in and secure irrigation and lighting systems and a state of the art security and surveillance system in-order to separate themselves from what is currently available.

@Reid Knight great feedback, but I want to reinforce what @Todd Dexheimer said about understanding why you want to syndicate.

The structure would have to be stripped to the foundation and reinforced before putting a new floor back in. 

Your post reinforces that. 

I certainly would be vigilant when selecting someone and allowing them to live in my home with me and my kids; but you would not be the first, and if you pick right it might reinforce the family unit and teach your boys about sacrifice. 

I learned a lot about what to do, and what not to do, and how to network effectively.I also have been fortunate to have input and training from some of the absolute top people in the business which further reinforced my choice of multi-family. 

This thread is really reinforcing the challenges of starting out in California.