SDIRA LLC vs just SDIRA and rental income.

[Matthew Swearingen]

I have a two part question. 

1. If I understand the SDIRA, without an LLC I have to wait for the custodian to approve a transaction in addition to them charging me fees..correct?

If that's the case is there a reason not to have an LLC?

2. If I purchase an income property and collect rents, can I take those rents and use them to pay down the investment home or use them in another manner or do they have to sit until disbursement at 59 1/2 year?