Need Your Ideas On How To Finance My First Deal

Hello, I am working on my first real estate investment deal and I need some help understanding how to finance it. I have a seller who needs to sell fast because she is moving to another state for a job. Her house was on the market for $127,400 but it was not selling because it needs some cosmetic work—paint, carpet, some window work, etc. However, it does have a new roof and new siding. Because the house was not selling, the owner took it off the market. Other houses in the same neighborhood are selling in the $130-150k range. The owner told me she wants to get $20k out of the property and she has an existing mortgage of $78,500. So, she would be willing to sell it to me for $98,500. My objective with the property would be to fix it up and sell it. I have two questions: 1. Does this sound like a good deal? 2. If this does sound like a good deal, what is the best way to finance it? My idea is to assume the existing mortgage (subject to) and use a hard lender for the $20k she wants. I would finance the house repairs on my credit card. My real estate agent would sell it for a 5% commission. So, if I spent around $7k to fix it up, I estimate I would earn around $14k after my agent’s commission. Is there a better way to creatively finance this deal? Also, am I thinking correctly on how to finance this deal? I have been reading real estate books like crazy but I am still kind of fuzzy on how the financing end of things works. Any advice from you experts would be most appreciated! Peter