I wouldn't put my asset into the care of someone that I wasn't intimately familiar with.

You will need to justify the sale price of those assets to the new owner at their then current value on your books.It is a big hassle to do this, but it can make you a lot of money if you do it right and are careful in your record keeping.

As a PM, his team would be familiar with areas and could help underwrite the property and take care of the day to day headaches. 

Coming from a health care background and Not having any previous experience in Real Estate or sales, I am having trouble getting the Bio started.  

I think every market and every person have their own reasons, but here are some thoughts from a property manager.Pros for self managing / cons of PM- Keep all the revenue- You have 100% control- You own listing, photos, etc- Nobody will ever care about your investment as much as you do.Cons for self managing/ Pros for property management- This is a 24h / 7days a week business and I imagine you have at least somewhat of a life I imagine. 

Check all docs carefully. 

Nobody cares as much as you do about your project.

Also I dont know the state of the house ie is it completely derelict and trashed or what not, as previously stated i dont care about the house, just the land.

Be careful.

@Josh Smith just like any rental property you buy, manage, rehab, etc. nobody cares as much about your bottom line as you do.