Maybe stupid ? Owner financed fix and flip?

[Phillip Ambrose]

I have someone who has a house they would like to sell but unfortunately they dont have the money to make the fixes needed to get premium for it. My thought was could I get it under contract and then market it to be sold and at the closing i would just pay them what we agreed upon and i keep the extra. Example, they want $120k (neg), needs about $10k in fixes, comps in the area are $170k. Is this like a wholesaler-fix and flip hybrid? Or would it be better to simply partner with them, they are friends of mine, with the repairs for a percentage of the profit?