Please advise - about to get feet wet in this

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Hi everyone. I am a new poster in the forums. My spouse and I are about to get into owning rental property (signing our first offer today) and I am getting cold feet. Could someone check out our numbers/plan and tell me any thoughts?

Our rental we are trying to buy is a 2 family. On the market for $62, pulling in $875 in rent each month. We are bidding $52 with a 3% seller concession, 5% down on the home, 20 year mortgage, not sure about interest rate yet. (trying to lower it from the 8% we've been preapproved at) Mortgage will be apx. $650, giving us apx. a $200 profit each month. We called the town office and the seller paid $36 for it 8 years ago in a desperate estate deal (owner died unexpectadly, left wife with 18 properties she dumped in a hurry) The neighborhood is quaint, near a public school, decent.

In order to pad the bank account for our down payment/closing, I decided to borrow $3500 from a low interest credit card. We plan on using our profit to pay that off immediately with profit from rent + salary surplus each month.

We only had a small bit in savings but this house is "ripe" right now, and we really wanted it.

I'll also add here that we have 3 children and are living in our own 1 family home we are paying a mortgage on. We are both in our low-mid thirties. We have always wanted to try our hand at rentals/real estate, but have been too scared to take the chance. We are now "going for it" and actually have plans on another 2 family in the works later this year or next (buying from a family member). I'll also add that my spouse is very handy and the property is one block from us.

I guess my question is, is it ok to start out this way? Is it totally nuts, having to borrow from a credit card in order to "start out?" I know its not the ideal situation, but we don't know how else to get started. We could save for longer for the closing costs, but then this particular house won't be here. We don't know where this one property purchase will lead us, but we really want to invest our money in something to secure a better future (hopefully near future) for all of us. Do our numbers sound ok? (cash flow, loan numbers, etc)

Is this a smart idea?

Editing to add: We are sitting well financially. Bills are paid, food on table, plenty leftover each month. Thanks again - The Dame