You can make money outsourcing everything if you know what you are doing. I outsource a lot, but do the 'grunt work' myself to make sure it is done properly.
If you do not know what you are doing, you will throw money away.
Let's break this down:
1. Custom Website ($XXX)
2. KW Research ($XXX)
3. Content ($XXX)
4. SEO ($XXXX a month)
5. Update and Manage Site ($XXX a month)
So, you site will cost at least $X,XXX. With a recurring payment for management and SEO of at least $XXX a month.
We can assume no one will try to cheat you or rip you off (They will), you need to figure out how to make money from this all.
Or, you can learn how to build a website, write content or outsource, learn KW Research, learn SEO, and when you can do it all yourself, outsource so you know what exactly you are buying and so you can determine what 'quality' is.
If you want to shell out money I can sell you a site with over 500 KWs all medium competition ranked between 20 and 150, with over 300 articles at over 500 words a piece (Most 1,000 words) for $XX,XXX. You can pay someone to rank it all to number one and you are done.
Unless you have the money to toss around, I suggest you learn how to do it all.