Air floats upwards in a hydro system. You can't run a PS reservoir lower than the pump because it won't self bleed the air out, then the pump will run hot via friction/seals go bad and kill itself.
If you were to do this you could never get the system totally full of fluid. It would flow out the top of the res tank because then the highest point wouldn't BE the res tank.
Just move the res a little bit more forward. You can put a sohc reservoir on the 240sx driver's side strut tower, just bend the mounts a little bit and only 2 bolts will work but it'll be fine
