Can anyone advise the advantages/disadvantages to having an advisory company versus just a custodian for a self-directed IRA. 

Im just in the process of comparing the advantages and disadvantages of an FHA vs 30yr fixed mortgage.

They each have their advantages and disadvantages so it would be good to get to know all three. 

Advantages Own the property free and clear immediatelyNo risk of foreclosureNo mortgage to meetCan keep the unit vacant until you have the right renterCan keep the unit vacant if repairs are neededAlmost all revenue (rent) is profitNot paying any interestLong-term property value appreciation Disadvantages Harder for beginners to buyAll income is taxable (minus expenses)Can’t take advantage of mortgage interest tax deductionReduces cash flow which could be used for other investmentsRisk of property value depreciating

I have to read more about what the advantage/disadvantage of going this route. 

Would there be any tax advantages or disadvantages for doing things this way?

I don't know if it's reasonable to expect any company to provide same or next day service, and I am well aware of the major disadvantage in the building being too small to have an on-site manager & maintenance person, but those delays in my opinion are dragging the performance down.I doubt I overpaid for this.

Many young men with disadvantaged socioeconomic upbringings don’t see any future for themselves that doesn’t involve jail or death.

Does this give you an advantage with buying houses or a disadvantage? 

Being equity partners or being a private lender has its advantages and disadvantages.