Normally when a  property is advertised as "cash only" the property is in poor condition and/or the seller wants to reduce contingencies and opts for a cleaner transaction.

No, it's not a normal business practice and does not pass the smell test.From driving? 

It normally takes 5+ years of rent increases before you feel like you are doing ok. 

So as a newer person in an area if you want a lot of bids before you close you'll normally end up with the more expensive guys or the ones that don't have work at the moment (usually for a reason).

I normally have one piece of advice for people just getting started, do not take on too much risk.  

It takes a lot of phone calls and asking around, but you can normally find a local or regional bank that is willing to work with investors on these types of properties.Mike

You can get a normal owner occupied home loan to do this. 

In the interest of connecting with agents here, my interested markets are:Bloomington-Normal, ILCrescent City, CAColombus, GALouisville, KYSavannah, GA Peoria, ILMilwaukee, WI

I'd normally also suggest Marshall, Black Mountain, and Old Fort, but many of these towns were heavily impacted by Helene.

This is normal!