If it was in a better market then probably, but I agree, I think the risks outweigh the benefits. 

The complicated part comes in figuring out if that outweighs the tax deferred or tax free growth of the retirement accounts. 

Advantages of not incorporating outweigh advantages of incorporating when you are starting and growing your investments.

If I did that however, I'd have to nix the tub and instead do a standup shower.Do the Pro's outweigh the Con's in this situation?

The benefits of having an LLC outweighs not putting them in one. 

S*it happens but advantages of being able to control tenants with a M2M far out weighs the rare situation of tenants leaving unexpectedly in the winter.

Realistically, you might do a deal here and there, but your costs probably outweigh the profits as a part time agent.

The great thing is, most companies will provide a free analysis, which is a projection of the tax benefits, so you can see up front if it makes sense or not, and make an educated decision if the benefits outweigh the cost incurred.

@John HuntAdvantages: Youth, time, freedomDisadvantages: Experience, moneyYour advantages far outweigh your disadvantages at this point.

@Adam SoelbergAll good comments but the time and effort it would cost you to pursue this legally outweighs the cost to replace.Who cars what your lease says just take out your cost from there security deposit and let them sue you for the $300 if they choose.