Every hamburger you buy has a couple of pennies included to help defend against future lawsuits.Daniel if you are really worried and don't trust insurance then create a C corp (which has its own advantages and disadvantages) or create an LLC with heavy legal oversight. 

I am learning about all the advantages of using a Solo 401k instead of an IRA, but what are the disadvantages?

Southern Maine was listed number 60 for top places to buy real estate but I'm finding there is a lot of competition and my price point and VA loan puts me at a disadvantage.

However, it should be noted that these points are not necessarily cons or disadvantages.

When it comes time to filing taxes, what would be the advantages/disadvantages? 

If entire net Sch C is allowed for QBI, but an S-Corp has to establish and subtract a reasonable salary for QBI purposes - this suddenly puts S-Corp at a substantial DISadvantage against Sch C. 

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!