I guess compared to MN it might be we average less than 45 degrees for the high this time of year rains all the time and then some snow and ice..

I view my 401K as icing on the cake.

Most successful REI have their personal finances basically in order (the "101" level stuff, like 1/3 of income on housing & not having a ridiculously expensive car payment) before getting into real estate investing, they don't get into it with two nickles to rub together as some sort of "get rich quick" scheme.If we're following that 33% rule either way (rent v own), then homeownership then becomes more of a family lifestyle choice than an investment strategy, though if you get lucky with appreciation like @Jay Hinrichs that's certainly icing on the cake too.My $0.02 as someone that looks over a lot of people's personal finances - successful people, and otherwise. 

I’ve made two “Best and Final” offers and one initial offer, each for over $20 million, in between walks down the beach for lunch or just to get a shave ice.  

Perils not covered on basic but covered on special would be (some not all):  Theft (important in Detroit), water damage (frozen pipes certainly happen in MI), weight of ice and snow (same), etc.I know of markets that do write special up there, such as Diamond State, Scottsdale, etc, but it's not a low cost policy.

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Its like Ice to them. 

Maybe buying and renting ice cream shops in rural North Dakota is your thing.

Your question definitely struck a nerve with a lot of people whether they like to admit it or not, but this is something we all have gone through to some degree or another.  

(I tend to use this strategy mostly with ice makers, yes there is one but if it breaks, I'm not gonna fix it).