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.

I have a 4 car detached garage at my property and I rent out all the bays for storage use.

There is no reason to own property, no reason to ever cook for yourself, no reason to own a car, and no reason to ever be bored.

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. 

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

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.  

This is normal! 

@John Cooper, it sounds like a normal tenant and a difficult landlord.