I personally like rabbits better. They have two products that are liked by almost everyone (only Penny dislikes the rabbit foot, everyone else loves; and everyone but Penny is neutral towards wool ) and only require a deluxe coop. Unless you are thinking about doing something more "themed" or roleplay something that involves sheep, rabbits are the way to go - maybe a sheep once you get the auto-grabber if you feel like having at least one of every animal. So yeah, you are on the right track.
The easiest/quick way to get money is getting a bunch of pigs for the truffles in that sweet barn. Maybe one cow and one goat for the Stardew Fair, bundles and cooking stuff if you feel like but eh.
A coop for buns and perhaps one for ducks (to grab eggs and duck feathers) and you are golden. Dinos are good too