The other thing is if its anything like our land you will have to go through with a very fine toothcomb pulling out all the ragwort - every single scrap, as otherwise the hay could kill the livestock (esp horses) it is fed to - hay with ragwort in is classes as unfit by trading standards for that reason. If theres a lot of ragwort you would maybe have to spray and thats more cost and effort.
We make small bale hay on our land but only for our own sheep (who do adore it) and we handpull any ragwort (it blows in from neighbouring cattle baron so not easy to eradicate totally). We buy in hay for the horses even tho we have masses of land because we cant be sure we have got 101%.
The other thing is do you have storage for the hay - must be indoors with good airflow. Thats the main thing that restricts us from making more hay.
For info we use an old 1976 John Deere 2030 (bit like a MF135) with a New Holland ancient Superliner baler, a hay mower, PZhaybob to wuffle and row it up and a large flat bale trailer. Hard work and no change from 10-12 k even for old equipment.