Disclosure that my firm competes with Midland. Generally speaking, the service at Midland is relatively good as compared to other custodians. Their fees tend to the high side.
You indicate the goal of acquiring several properties. Doing that with any self-directed IRA custodian will be an ongoing nightmare of paperwork, processing delays, and high fees. With a custodian held account, they hold the funds, sign every document, cut every check, receive every deposit. That middleman processing layer can become a real barrier with time-sensitive and transaction intensive assets such as rental property.
A plan offering checkbook control such as a Checkbook IRA or Solo 401(k) will be a much more effective and efficient vehicle for the type of investing you are considering. You will administer all investment activities directly via the plan entity, out of a bank account of your choosing. This eliminates that processing layer of paperwork, delays, and per-transaction fees. Such plans are typically not offered directly by custodians such as Midland. I strongly suggest you research this option as you evaluate your course.
Fees and service can vary quite a bit from one custodian to another. Sometimes you can save quite a bit of money over time while gaining more control over the account if an LLC is added. Some custodians allow for the use of an LLC to gain checkbook control while others do not.
If you are self-employed, you might want to consider a Solo 401k plan. While a custodian such as Midland is required for a self-directed IRA, there is no custodial requirement for a Solo 401k. There are quite a few additional benefits to the Solo 401k if you are eligible. I would recommend reaching out to a few self-directed IRA and 401k providers to see what your options are.
Brian - I got your details form your Bigger Pockets Profile. Mind call you within the next week or so got get some additional information and clarification?