Well, that's two factions: Guild and Outcasts. In Malifaux, you only declare your faction at first. Once you see the objectives (strat and schemes) then you build your crew.
In your Guild pool you've got 3 masters with a similar overall style (support) but they do it different ways. Hoffman directly buffs constructs, lets you share stats, and can make them take extra actions. He's probably the most warmachine-esque master, stacking buffs and operating in a loose bubble.
Lucius is about dropping scheme markers, positioning models, and ordering his minions around. He's hard to learn and arguably the worst master in the game. But he's my favorite.
McCabe supports by making his crew fast as fuck and giving them upgrades to boost attack/defense/speed/healing. Very fluid playstyle.
So that Guild trio gives you 3 distinct playstyles that can cover the various strategies. Good models for all 3 are Wardens, Peacekeeper, Austringers, Brutal Emissary, Master Queeg, and Witchling Stalkers.
On the Outcast side you have Daw and Von Schill.
Daw is a control/debuff type. He curses models to limit their effectiveness and can really hurt cursed models by controlling them or doing extra damage.
Von Schill is a jack of all trades. He does good damage, can buff other Freikorps, just good all around. Not the best at anything, though.
Good models for them would be Hannah, Johan, Sue, Hodgepodge effigy and emissary, Trappers, Librarians, Strongarm, and Lazarus.
