Frugal Farm animals??

My friend just bought a home with 1 1/2 acres and would like to have a few animals..
Q1..What kind of animals would be good for this size of land?
Q2. Has anyone adopted livestock/poultry due to lack of money?
Q3.What are the pros and cons of doing this?
She has informed me that she's like to have chickens for eggs and meat..A horse for riding.and maybe a cow for milk but worried because she doesn't eat alot of red meat.it a cow worth it?
I'd love to hear your stories..
She's also intested in the benifits of canning and homemade foods like bread and jams..
Thanks