Regarding the differences between the first to sentences:
"...advantage to..." vs "...advantage of..."
I don't believe there is a rule or convention to follow to make the distinction more clear. In this case, I think that either sound fine. Don't take this as a rule, but to me, it feels as if I would say "...advantage to..." more often if I am stating the advantage, rather than asking.
"Trust me, there are a lot of advantages to doing it this way. It's much easier."
Compared to:
"What are the advantages of doing it this way? Is it much easier?"
Even still, you could still swap out 'of' and 'to' and it would be just fine in either case.
Sentence three is incorrect. "It has" implies that there is a subject that these advantages belong to, however that's not the case. We are simply stating that these advantages exist.
Sentence four is fine. Hope this helps!