Philosophy

Yes it is possible to have both truths. Truth is not mutually exclusive to one school of thoughts, meaning that truth does not have to be derived by just one way of thinking. It is possible that two different people one using the empiricism approach and the other using the rationalism approach arrive at the same truthful conclusion.

Is the mind an object that emerges from the body or does the mind allows us to conceptualize ourselves into bodies

There are numerous theories relating to the relationship of mind and body. Many people associate the mind with the brain thinking that they are one and the same or that the mind resides in the brain. I believe in the monism school of thought that the mind and the body are not two separate entities. The mind helps us conceptualize ourselves into bodies and it allows us to perceive the world around us.

Rene Descartes said it best I think therefore I am. I believe that our minds and bodies are one and that allows us to be. The interconnection of the tangible (body) and the intangible (mind) allows us to be who we are. 

Does one need to possess a mind in order to understand the body

A person needs to posses a mind to understand everything. The mind is the aspect of intelligence and consciousness. Without the mind a person would not be able to perceive or formulate thoughts and therefore not understand the body.

Perhaps mind and body or rationality and experience are interdependent, constantly emerging together

This is an interesting theory. If this was the case then it would further prove that rationality and experience are not mutually exclusive and that both ways of thinking could co-exists. As far as the mind and body being interdependent it seems a little more unlikely.  The mind would probably not function without the body (no life support), but the body would exist without the mind, but without consciousness. This means that in reality the mind is dependent on the body if it existed separately (dualism).