[Mel Rice]

We started by following our neighbours system (we are in Germany with lomg cold winters)

They bought in two pairs of lambs, both sets came with a borrowed mum until they were weaned (they stayed a long time more than needed!) Mums went home and the lambs were kept on until just before Christmas when they were slaughtered and the meat shared around the extended fammily.....Then repeated each year.

We did the same but only killed two lambs we kept the other two, girls, to start our own flock.
the second year I only got one set of lambs (total of 4 of mine + borrowed mum) We did kill both of these lambs. The two over-wintered lambs went on a little holliday with another friend and came home preggie with a pair and a single.

This last year I overwintered 4 sheep (I had planned to only have the two mums but !!!)
I now have the two mums with a pair of lambs each and have just had the year-olds butchered.

I have just under 2 acres and keep a horse aswell.

My sheep will walk on a colar and lead (better with the lambs at their side) Headcollars work better than just a neck collar. But at this time of year the grass is just starting to grow so they go out ,on the leads, in the morning and race home (even into their own pens) at night, I love my sheep....they are very tasty too!

[Simple Simon]

I've just joined and was browsing.

We have been smallholding for nearly 8 years so this might help. Sheep are cheaper and less trouble than horses but they do need checking twice daily because they find trouble. We started with half a dozen commercial crosses and it was the best introduction because we could spend time finding of it worked for us and reviewing breeds. 

There's lots of good advice above, but to be honest you won't know what to do until you do it for yourself.  So read Tim Tyne, but read again in 12 months.   You should be able to buy this years lambs in July, if that's the way you go.