Feeling discouraged after this!!

[Shawn Munoz]

Okay so I've found a few properties that I want to purchase to start renting them out. After months of looking at properties. I attempted putting in an offer on a property that costs 54K. I have 20% to put down. The real estate agent is telling me since The house cost is so low I have to purchase it full cash because nonbank will fund something so low. Is this legal?? I think it's crazy. I see stories on here everyday with people purchasing and never heard of this. The property is in Nj btw.