yes - everything you are talking about doing is possible.
actually, we started with 1 cow
things i noticed:
we were part of her hear. we were out there a few times a day and she saw us as part of her heard.
she will have to get pregnant every year if you want to milk her every year. you can use a bull, or you can see if there is anyone you can AI in your area (in our area its easier to AI than to keep a bull)
the family cow is a good book, though it is not very permie minded (i have heard the most recent release is better) -they also have a pretty helpful forum too.
we found that as our family expanded we werent able to spend as much time with the animals - so we decided to get her some [cow] friends.
are you stuck on cows? seems for your purposes, a goat or two might be a better choice (easier to handle/less milk/companionship)
just trying to help.