There is risk - so the reward should be good (better than the "safe" bank would offer).

Can I go to a regular bank and get a conventional mortgage for less than $50k? 

It has solid cash flow and great tenant currently living there.Can anybody recommend me a bank/credit union/financial institution that can provide me 200K HELOC  (up to 70% LTV)?

I purchased the unit in cash and was told previously by banks I could immediately get a cash out refi of 75%. 

There are also local banks who might be interested in a "short" loan of 6-18 months.

I will definitely call around a couple smaller banks in the state I am planning to invest in.

Also, I’m wondering if banks will issue any business credit cards to a brand new LLC?

Once you have tenants placed you have nothing to do really.Also, until the rental income is aged 2 years most banks won't accept it as income.Now, just save you job income and put it towards the next purchase.

I did a little research and found out it's bank owned and a real estate agent I spoke with said "there's no movement on it at all" (whatever that means!). 

My idea so far is something along the lines ofReceive list of non-performing loans offered by a bank, Freddie Mac/Fannie Mae, some other source.Underwrite each loan to determine the price we are willing to pay, given the info providedSubmit bids on each loanPurchase the pool of loansReach out to each homeowner, determine whether new terms, deed in lieu, or foreclosure is best optionSell newly performing loans or foreclosed propertyDo I have it mostly right?