I would be self managing the property because I know the area well, have local connections to help out if in a pickle, and could get there in a day drive if need be. 

I would talk to some lenders  getting land loans and development loans with no experience is next to impossible starting out.. 

Have you considered moving those funds into a self-directed IRA (SDIRA)?

Excited to join the BP community.About myself - I am a principal of a RE development company and co-founder of an proptech company. 

As RE developers we all know how important it is to hire good, reliable residential contractors. 

I am not the most technical person but in this day and age, not being technical is even more reason to welcome opportunities to use platforms that help develop that skill. 

I primarily work as a part-time CFO for new (and "old") real estate developers and investors, primarily helping them financial analyze their deals and finding them the best rates and terms for financing.

Have you considered using a self-directed IRA to invest rather than cashing it out? 

Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.

Does anyone know a property manager that supports small self-storage rentals in addition to residential rentals?