And are they enough to outweigh the advantages?

Most of the times, this is a turnoff for buyers.Bottomline=======Clearly, the advantages outweigh the disadvantages, at least prima facie.That's why, we see a lot of new investors getting an RE license.

Again, the returns on our rentals far outweigh the taxes/penalties+stock market returns.

Wondering if the SFR vs MFR debate will shift, now that economy of scale may not outweigh tenant's sentiment of living in close proximity to others lol.Joking aside, not sure what to make of the current events.

A lot won’t take that risk and if you find one who will I would bet the increased rent will not out weigh the insurance expense.

Unless there is some reason to believe the area is going to experience growth, and enough growth to outweigh the massive overbuilding in the tourist areas of FL, I think I'd be inclined to be rid of this.

BUT, the potential benefits could far outweigh the downside. 

It is work for you and possibly costly due to a vacancy but the advantages of maintaining a no animal unit far outweighs the cost.

I’m out weighing  my options.

The cost might outweigh the benefits.It's really up to  you to decide whether you want to:do it yourself and hope it's good enoughbecome knowledgeable in real estate taxation thru classes or bookshire an accountant to do it for youhire an accountant to review what you have done yourselfOnce you start growing your real estate portfolio, then a good CPA can become indispensable with proactive tax planning.