3 of my faves when I was active for entity structure,  contracts and landlord-tenant have retired but Ryan Feeney of Overcast Law was very good with landlord-tenant matters. 

This likely will vary by state.I do agree with you there is some definite potential to this approach especially for buyers with high incomes (and high tax rates) and looking for post retirement income streams.

The intent is the sponsor needs to know enough about investor to feel comfortable the investor has the financial knowledge and acumen to properly evaluate the potential risks and benefits of any investment and the financial stability to invest capital for a 5 to 7 year period.Topics of discussion with sponsor would be:Income, credit, job stability, prior investment experience either with real estate or other asset types, education level, occupation and profession, amount of savings or funds in retirement accounts.Hope this helps.

have 2 index funds set up (one for retirement) and am generally pretty far ahead. 

I really don’t think people realize a 506c there does not have to be a ppm and the operating and subscription agreement can say they can invest in anything from pigs feet to moonstone and they could have an iq of 4 as a sponsor and do really dumb things but none of that is a scam or a ponzi.Just like last crash no one went down, same will happen here - regulators are far to busy dealing with the Wall Street crowd which impacts retirement accounts if retail investors - investors in a 506c are accredited = they can lose it all.Sec isn’t gonna spend $ 1M chasing someone who just had a bad deal.

I have male seniors whose income is verified thru retirement/disability payments.

For example, many elderly individuals purchase condos in Florida to retire.

Purchase price: $1,400,000 Cash invested: $300,000 Chimney RV park is a 5 star retirement park in Mission Texas.

It is distressing to realize that as I retire I will not be eligible to use the bank to buy my next home.

About 5 years ago we hopped in a RE syndication and pulled out of it recently to take a more active role in our investing (returns where meh), along with trying to supercharge our financial goals in retiring early.