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[RC] Small Acreage Management - Val Nicoson

Our bid was just accepted on a 5 acre piece of property with a house, barn & outbuildings...it does include a small pond too in the SE corner.  
Would like to hear from others who also have small acreages as to how you manage your properties regarding how many horses you may have, maintaining the grass pastures, etc...including how you deal with Insecticides/Pesticides leaching into your pastures from adjacent farm fields, etc.
The property is flat but with good drainage from what we can tell.
TIA for any info/advice, it'll be a couple months for financing & closure to happen,