Before I start, I don't have any land but would love to have the opportunity that you have.
Quote: 'We are thinking of targeting a breed like angus.'
To be honest, I don't think Angus are anything special.
When at college (some 5-9 years ago now) a lecturer of mine always said - 'small cow, small feedbill, small vet bill, small housing cost.'.
Look at something that would be hardy and different - a niche breed for market almost.
Speak to local butchers - do they support rare breed beef? Same with local restaurants.
What about sheep? Buying in lambs at the back end and fatten over the following 6-8 weeks on kale/turnips and hay.
At the recent Smallholder Show in Lanark, I asked the question 'What size of smallholding do you need to make a profit?' The answer: 10-15 acre.
Before I get shot - I realise that the 2 sectors are vastly different.
Think out of the box - turkeys for Christmas?
Make good quality hay and sell it? Fatten lambs on the hay aftermath.
I would also say, that you don't necessarily need a lot of machinery either depending on what you go for.
Again from college days - 'sometimes the profitable farms have the minimum inputs'