One thing to consider as well as all posts above is "what do you have for natural resources for your cattle herd"? If you have 10 acres of Indiana fescue then you can figure on have 8 to 10 cows. If you are in Montana and have 1000 acres of grass, then you know what you can hold. If you can house less than 15 cows, then I would suggest looking at the flush/recip option. If you are in the areas where pasture is prevelant, and can get your hands on grass, then take the "low cost" cow road. That is what we have done. We started with 10 cows on 80 rented acres, found more grass, bought more cows, and expanded. Now we are in a position to flush cows, take the added expenses and spread them across the other 50 cows. We also have the ability to use our own cows for recips, and either keep/sell the ET's and/or sell the calves from the recips that didn't take the egg. There are a heck of a bunch of expenses that always get swept under the table. When you expand cows, you also expand costs for bunks, tanks, gates, fence, acreage to buy/rent/lease. Adding balers/swathers/hay trailers/bigger stock trailer/another pasture wagon to check cows/4 wheelers/buying more hay/feed/etc always goes along with expansion to keep your time spent taking care of cows to a minimum. Start putting a pencil to all of this as it will also creep up on you.