It's only the small, less sophisticated law firms that make you call them and speak to a rep.

They don't work so well for most syndicators and sophisticated operators in the space.  

The challenge with many syndications that focus on the typical accredited investor (or sophisticated investor) is the actual partners will earn out their "investment" many times over as soon as a deal closes.  

These are not sophisticated scams executed by criminal masterminds.

. - sophisticated value adds: development, TIC/coop, take advantage of localized regulations (2 off the top of my head: San Jose lot split for ADUs, San Diego city unlimited ADU count in existing conforming building), etc.  

So, with 35 or fewer investors, all of them being either accredited or sophisticated, no SEC filing is needed and no compliance with Reg D need be adhered to.  

note more sophisticated value adds could have better cost to rent valuation.  

While simple enough in concept, it is actually pretty sophisticated investing with a lot of twists and turns.

If you're looking for more sophistication like to move leads through stages, to have built in tools that help you communicate by text/email, bring in team members to own leads, etc.. then more of a CRM may be helpful for you there.

We are now at a place where there are Sponsors who are raising capital to compete for these institutional level assets but rather than filling the capital stack with these sophisticated larger check writers, they are raising the capital in smaller increments.