The Community Narrative Research Project (CNRP) is an undergraduate action research initiative focused on undergraduate students’ experiences of community engagement over time. At the center of the project is the collection and analysis of narratives written by Bonner Scholars at Rhodes College over their four years working in Memphis communities as part of their scholarship. This paper describes the participatory community research model that has evolved in the CNRP, including the voices of undergraduate student leaders in the Bonner Scholars program and undergraduate researchers in developmental and community psychology. We focus on the community of practice that has emerged in our team, and how this community grounds our interpretive and longitudinal analysis of the narratives we examine. Our discussion of the data analysis process, including students’ engagement with coding and reliability, illustrates the methodological repertoire that undergraduates develop in a community of practice and that is scaffolded by more experienced faculty and senior student researchers. Undergraduate students build the community psychology research and practice competencies that are often understood to be part of graduate student development. We are able to ask creative research questions informed by our unique and shared experiences, as well as our deep understanding of the data. We feature individual accounts by each of the six student authors to illustrate our research practice and share the experiences of team members. We offer practices that may be adapted to other undergraduate research contexts, and we discuss challenges and supports needed to sustain participatory action research with undergraduate students.