I've been switching to 55 plus. My problem has been getting older people who can deal with stairs to the upstairs units.
Otherwise there's been no downside. Nice, quiet people with regular incomes. The occasional family member comes to visit. No loud music, tenants get along, the only disturbance is when the oxygen delivery guy knocks over a bottle. :-)
If I had a studio motel, I'd do a demographic study starting with the occupancy levels of nearby assisted living homes and concentrations. I'd contact local senior centers, doctors and social services and see if there is in fact a market for lower income retirement studios.
If you have the market I'd do it in a heartbeat! Get set up with "Meals on Wheels," local senior bus transport, housekeepers and home health aides who tenants could hire, etc.
I think this is the future for the next 20 years. IF you have all one level or an elevator.
--24.156.xx.xx