Go talk to the county agent at the OSU Extension office (in Norman, they're at the Cleveland County Fairgrounds on Robinson St.); they'll shoot you straight on the subject.
My Dad always said they're making money while you're sleeping.
Make sure you have access to quality pasture with plenty of water available. You'd be surprised how a dry year can affect some places.
Leasing is (or should be anyway) cheaper than buying, and if you decide to bail, you don't have a 30-40 year mortgage to deal with. If you can hack it a few years, then you might consider buying land.
Check out FHMA (that's NOT FHA btw). They have better interest rates for farm loans, and usually let the livestock stand as collateral, along with allowing you to operate out of the proceeds (banks often don't care how, or even if you can operate).
And most importantly... buy quality cattle and a good bull. If you don't know what this means, then you're not ready yet. Be aware that some larger beef breeds may not produce sufficient milk for their unusually large offspring (which can also cause calving problems with heifers), and may not always drop a calf every 12 months.
Again, just my two cents.
