First Time Investor + Cash Only + What to Look For?

Came across a decent property I could flip or turn into a nice rental. Buyer wants cash only and the property has been in their family for generations. It is priced right… about half of going homes in the area. It needs some TLC which I can do all myself no problem.

Listing agent said there are 5 other people interested in the property and that was from contacting him 15 minutes after he listed the property. I have already drove to look at it. Nothing I cant fix. Needs a new roof, etc. Since today is a holiday we'll be meeting first thing ASAP tomorrow morning.

What should I expect? Since he mentioned others are interested will there likely be a bidding war? Anything else I should expect? Why cash only offers? Would it not be in sellers best interest to accept all offers? Also, the agent said "buyer should satisfy as to all permits." What exactly does that mean? Thanks for any help!

More real estate tips at Program Realty Wix site

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