How many types of worms are there and what are the advantages and disadvantages of each.

Corey, there are advantages and disadvantages of syndication/passive versus directly owning real estate/active. personally I do both and don’t feel either one is 100% better than the other in all circumstances.When you own it yourself, you have more control and you can also put in sweat equity to increase your return.

What are the advantages or disadvantages?

ALSO - we have seen managers not even fill out leases correctly putting their owners at a severe disadvantage! 

Being young can be a disadvantage.

I see it as the biggest disadvantage to a Roth IRA, but that's just my opinion.

As a disregarded entity, all of your LLC rental income and expenses are reported on Schedule E (1040) of your personal tax return as if the LLC did not exist.Personally speaking, I believe there are more tax disadvantages to having rental property held by a corporation form of LLC than the disregarded entity.

If something is lost or damage, having photos only works to your disadvantage.

Some things to consider that I have learned in my experience with these are; look into the fee structure (typically based on the value of the portfolio), and tax advantages vs disadvantages as mentioned by others, the credibility and strength of the custodian (look up American Greed for a fun story), and potential tax return filings each year depending on your structure and investments (ie UBIT/990 and 568/CA LLC).Regarding the Roth IRA accounts mentioned; for those who look to retire before 59 1/2 years old, look into the "Substantially Equal Periodic Payments" exception.

Only disadvantage is that it's a monthly subscription.