That sounds like a fairly sturdy plot. I think the only thing that could cause problems is the possibility of a time skip. If one is reborn and you time skip. IE: the year they died was 1994 and they were reborn relatively quickly, and they time skipped 21 years to 2015, the time skip would have to affect the rest of the story so someone's character who was 20 would then be 41 and ect, which I feel would certainly challenge others. I'm feeling this would probably be best if it was kept to a small group or possibly a 1x1 so no one got lost or left behind in the story line.