Join Date: Oct 2009
Location: Just south of sanity
For shelter, check your local laws. Depending on where you live he may not require anything, especially if he's been living like that his whole life.
5-8 acres for one horse is fine, but how much pasture does he really have? Does all of that acreage yield grass, or is some of it dry lot? Ideally, since you have 60 acres of cleared land, why can't you include some of that as pasturage for him?
Yes, barbed wire is not the best type of fencing for horses and should be replaced as soon as possible. You don't need board fencing as there are cheaper and just as effective/safe alternatives. I like electric fencing.
Is he wild, or can you catch him? He probably needs his feet trimmed and teeth floated, as well as all his vaccinations. Probably needs his sheath cleaned too, which the vet can do when they're out checking his teeth/giving vaccinations.