Hello I would just like to know the basic complexity of converting a PSD file to Wordpress and implement it as a theme.
I would also like to know how to find a good developer to do this work (what should I be looking for in his skill set)
And, I would also like to know what’s the average price for this type of work and if it is possible to outsource it without significantly affecting the quality of the work
Thank you for your time guys,
From a newbie in the designer world 
Can you code CSS? A good first step is getting your design into clean CSS. Then you can start moving your code into wordpress.
There’s a couple of tutorials that show how Wordpress is setup:
https://thethemefoundry.com/blog/html-wordpress/
Most people who do this either charge per hour or per the job. It’d probably be more beneficial to you to price it for the job. Will it affect the quality of the work? That’s an impossible question. If they’re a quality programmer, it’ll be far better than an inexperienced attempt on your own. If they’re not, they could botch it up and you’ll be both unhappy and out some money.
If you do decide to outsource it, you can do job bidding at places like Elance or Odesk.
If your PSD design is simple and its easy to convert to WordPress, if you are not good with you can check some psd to wordless theme build tutorials collection with below link,
psd-to-wordpress-conversion-tutorial
If you are looking for a basic site then you want to check the developer is good with HTML, CSS and WordPress.
If you are looking for a complex site work the developer should know PHP and MySQL too.
Psd to WordPress Conversion outsourcing is a common process today, But you want to check the developer / companies portfolio and work capability.
The cost normally based on the requirement, but a normal site page psd to WordPress conversion cost may start with $100.
Thanks.