Best way to acquire rental property

My wife and I are looking to purchase a house for ourselves as well as a rental property. We just are not sure which one to do first or if getting a rental property would not allow us to qualify for a home. 

We bought our first house with cash for $15000. It needed everything so we essentially gutted it. Everything is now brand new. The value is right at $65000. We have been wanting to find another home for ourselves. One with space for kids. We did get approved, but decided to hold off until next year to arrange our finances. Hypothetical if we were to have a parent co-sign on a rental property, would be able to still qualify for a mortgage ourselves/together for a house? If one of us was on a loan for the rental property with a co-signer-based on their income. 

Alternatively if we purchased a house with a loan we were both on, would one of us be able to have a co-signer help us get a loan for a rental property?

We really recognize that this is about the only chance we will have at getting started as bills and expenses increase. 

We really appreciate any advice/info as to the best route to take & chances of being approved. Thanks!