Other general observations about student rentals (not specific to Tally):Nice thing is you can get parents to sign off as co-signors.    

Could you be more specific.

Then you can focus on targeting their specific criteria. 

You need to to give specific numbers. 

Meet with other local investors to hear about market specifics, and learn from their experiences. 

I'm looking for a SFH in the Fresno CA area, specifically in the tower district.

But since you asked specifically about performing notes, this doesn't seem to apply.I think you'll need to clarify what you are looking for to get appropriate answers. 

So if you're kind of on the fence for this idea and could be nudged either way, that's food for thought. :)

Hi David, thank you for this it is an interesting read and there is lots of good food for thought.But for me I am not a fan of Syndication, (yet) and I do believe that the main reason for this is the lack of direct control I end up having.I have ventured into Partnerships over the years and with the exception of the one I have with my wife, none of them worked well for me, I understand this is more than likely a result of my approach to them, so I am confident that I can make it work, to me its a matter of finding the right place, and after a lot of conversations about Memphis I have decided this is not where I want my first Large Apartment purchase to be.I am now going to expand my search into Texas and possibly other surrounding states to see what can be found.

It's a great location for commercial suites, CVS, or fast food restaurant.