Disclaimer:This is just my opinion, based on my expereinces, take it as that... not the bible... and I will not argue it like the bible. I am about 3-4 hours, as the bird flys, south of you.
To start, cattle will pay for cattle, but you can not charge 2000 gal of diesel to them just because that is on the ranch. Basically, the cattle won't pay for you to make food plots or any extra stuff on the property. You will have to learn to divide out what diesel you use on cattle and charge that to them for book keeping purposes.
A few thing that came to mind...
-You don't want to keep a first time heifer's calf as a replacement.
-Say you have 10 mommas. You will be lucky to maybe get 2 replacements out of them once you get rolling.
-You will lose money swapping bulls around before the cattle are paid for.
Do you have any known expences that are going to go agaist the cattle? Lease money, tractor rent, electric bills, general maintance, ect....
The way cattle prices are now you should get some great deals. I would try to get all the money you possible can for say 20 mommas. Even if you have to buy some of them a little young and turn them out on pasture for a couple months before putting a bull in. This is a great time to be buying cattle if you have grass.
Just in general, what I would do, is take your cash and buy the ten cows (how ever many you can pay cash for) and bull. Stick them on the place and make it a point to see how little you can spend on them. Keep it to the necessities... feed and vacs. No improvements to the place, no $500 hay rings, no brand new facilities, ect. Keep very detailed books of every dollars spent and earned. Just get a feel for what you are dealing with. Then set a budget and goals from that.
Hopefully, IF in a year it isn't working out you can bail the cattle and not lose money on them.
As some one said, try to make a deal with the neighbor to graze what you are not using with him knowing what your future plans are. Just year to year, and keep a tight hold. Don't let him overgraze and ruin you. May be able to make all kinds of deals by partnering up on hay, feed, borrow a bull to breed heifers, ect.. With the grasses you listed having, you probably only need one pasture (70ac), two max, for 10-20 head. We can stock 1cow to 3ac safely on improved pasture.
IF you have not read it yet, either Jogee or Caustic says learn to be a grass farmer and they are exactly right. Take care of those improved pastures.
Pray for PEACE, LOVE and OIL