If you purchase this property, spend the time and bit of extra money to build a decent fence with good posts. Makeshift fencing will only cost you more later.
If the ground is decent and posts will go in OK with a post pounder, treated wood posts are reasonably inexpensive and secure. Where I live, wood posts are no more expensive than metal T-posts. We can also rent a pounder that pulls behind the truck for a half day for about $80 and two people can easily do this job. When we fenced our property, we put in over a hundred posts around about 5 acres, plus the yard fence in about 5 hours with the pounder.
As for the fencing material itself, I agree with others that electric is a good, affordable option. I used the 3/8" nautical grade rope with electric woven into it. It has a fairly high tensile strength, conducts the charge well, looks good, was very easy to install, and was very reasonably priced. We used screw-in insulators and put up 4 strands. Only the top and the third down strand are electrified. The horses don't challenge the fence EVER. We've had it for 2 years in an area that goes from -40 with loads of snow in the winter to +30 C with sun, rain, wind, hail, and you name it, in the summer. Other than a quick 5 minute job checking the tension, we have done virtually no maintenance on the fence. I continually get compliments on how good our fence looks. I also have about 40 temporary step in posts that I use to cross fence for pasture rotation.
With water, as long as your hose will reach a faucet on the house, you will be fine. We ran our fence closer to the side of our house with the faucet (about 25 feet) and keep our trough there. As I said, winter is cold, so we have to drain and store the hose inside in winter. We use a livestock grade submersible water heater in a 120 gallon tank during the winter. With 2 horses drinking out of the water tank, we have to refill about every 3 days or so. We use the same tank in summer, but take out the heater. I think the tank cost around $100 and the heater around $50. We've had the same set-up for two years (including 2 winters) with no issues.
Good luck with your property! Choose well and put the time in to get the best quality materials you can. It will be worth it.