My suggestion would be to take in the cattle on a cash basis, getting paid monthly with the money to be paid at the first of each month for the month following. This way, either party can get out in a timely fashion if things don't work out.
I agree with Soapweed except that I would recomend a written contract specifying time frame and who furnishes what such as salt medicine labor for branding gathering shipping etc. Heads off a lot of trouble before you start. Good Luck
After dozens of arrangements,paying cash on a yearly deal was by far the worst for the owner of the cattle.If you have a honest renter fine but know them well! A share contract with a reasonable share for the caretaker worked best for us.Gives the renter an incentive to do his best.