You are the manager of your Self-Directed Checkbook IRA LLC and all decisions are made by you. When you want to make an investment, you write a check, use your debit card, wire funds, etc. All contracts can be signed by you on behalf of the LLC.
If you want to hire another decision maker you can also do that. Either way, you will need to report to the custodian on an annual basis. Most custodians don’t have any formal documents to make this reporting, a simple letter will suffice. We recommend keeping a balance sheet for your entity and sending that to the custodian annually.