Goodlife, I'll throw in my little bits of advice, some of which may already have been mentioned. When visitors come to us to see our small herd and how we do things, I tell them:
(1) make friends with your county extension agent; a good one can advise you on many things and refer you to people you may need now or in the future (fencing, hay, educational cattle courses, AI, vets, people to haul cattle); should also come out to your farm at no charge and actually identify what's growing in your pastures, etc., and should be knowledgeable about govt. programs that may help you get started.
(2) Make contact with a large animal vet BEFORE you get your animals; vets are more likely to respond to your emergencies (yes, at some point you WILL have one) if they know who you are and have been to your farm. They will NOT give out meds to someone they don't know. And they don't appreciate rodeos (catching animals in order to treat them). Establish a herd health program with the vet.
(3) Get your facilities ready BEFORE your animals arrive (I have often seen that emphasized on these boards). Sooner or later, you'll need a small(er) enclosure in which to keep a sick animal or one that is due to calve. Corral panels are portable and can be used in many ways, inside a barn or outside. Make sure there's some sort of shelter available. The cow that's due to calve may not use it, but her calf will.
(4) Make sure you have a good source of hay and inside storage for it, esp. if square bales.
(5) Reliable source of water that remains unfrozen (preferably not a pond).
(6) Don't buy bred heifers if you're new to this. Get an older, proven cow that has raised calves. Not a guarantee there won't be a calving problem, but less likely.
(7) Don't buy a bull initially. They can be management problems; they like to mess with things (fences, mineral feeders, hay rings, anything not nailed down).
(8) Get a breed that you can readily take to the livestock market -- not a niche breed.
(9) If in doubt, start with several beef weanlings (steers), because there are always people who are eager to fill their freezer with a half-beef. No worries about checking pregnant cows, no bull to manage, and you can eat your mistakes if you change your mind about this farming stuff.
(10) Get a couple of good basic cattle books and read, read, read.
Hey, better yet, come to VA and I'll give you my 2-hour tour!
There's more to tell, but the people on this board will give you sound advice. Good luck with all these decisions!!!