There are many strategies you can take, so make sure you take some time to figure out which one(s) will help you reach your goals.Along with the resources Mehran mentioned above, check out the BP Podcasts, they are interesting and provide some great information (and entertainment).

If you are not willing to invest the $400+ bucks, you're just looking to be entertained.

Will the bank now entertain very low offers as in $1 or maybe half asking price at least?

I have about 35k saved up which was going to be the down payment on a house or condo, but I'm thinking I might hold off on that for a while to get started in RE investing.I had entertained ideas of wholesaling but... frankly after my experiences pursuing that, I think it's basically a crack dream.So, I would like to get into rehabbing, but I don't really see how I could acquire a property since even the rough ones go for at least 100k here in NYC.Is my best option to acquire a property using my cash for the down payment and a loan to cover the rest of the cost?

When I am with a seller who has a property I am interested in, I would ask if they would entertain an offer from me.

I will however submit that when a billionaire takes a 1.3 billion dollar CASH position in real estate over the course of four years leading right up to here in 2014 in a "dying" city, it might cause one to entertain a possible rethink about our beloved Motor City and the future it may hold. 

Asking a seller to actually front money for repairs is not something most sellers will entertain, if they can do that they might as well have repairs made and sell for more.The seller needs to contract with the with the contractors for the work.

Advise, entertainment, etc? 

Well we do not run an entertainment website.

Not much to do in the area besides the beach and the nearest towns are tiny so entertainment and shopping is pretty limited.