Land will usually run about $5 to $6 per acre so about $3000. I would have no more than 5 members in the club. It is easier to manage with the fewer members. Depending on the contiguous lands around your 500 acres and the way they are managed will be the determining factor as far as herd management rules. Keep the rules simple as possible and if a member doesn't pull his weight let it be known that their membership may not be available next year. One rule we have that we all like is that everyone has 3 guest days, and you use them as you wish, no more.