Loc: Grayson county
Also remember the landowner will probably want to limit the number of cattle to prevent overgrazing. They also may require to you to rotate off for some period of time. Just something to look for in your lease. You may or may not agree with potential restrictions. Read your lease carefully or if you are not comfortable doing so find someone that is competent to look it over.
I'd give $10-15/acre for something like that. New fences would be the landowners responsibility. If you don't have a new fence I would just make do with what is already there. I would pay a little extra for newer fencing on property.