Newsflash: Looking to purchase house, have questions.

Me and a friend are looking to buy a house together, joint owner ship. The house is 130k, I my self qualify for a VA loan. He does not. We have little amounts of work experience due to moving into a new city.My question is how hard is it to qualify on a house for that much.How to best make the odds in our favor for approval. Small chance we can get 2 parents as co signers. One from each party. Also will be renting out another of the spare bedrooms for 500 a month to a friend. The house we are looking at has been listed for over 200 days and was originally built in the mid to early 1800s. We are both mechanics and can do all the fix up work our selves, and plan to well improve the home. The house in question is also from what appears to be a foreclosure.Any advice is very greatly appreciated.Thank you.