And all that unnecessary weight is gone. 

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.

His word (and lack of credit/income/assets) going to carry more weight with potential partners if he has a track record to back it up.

For example, a high leveraged syndicator could look by most weights and measures to be at high risk, BUT, what may not be known is they already have a full game-plan for a market pivot where-in they will shift the portfolio of let's say SFR, too a C4D model in which the diminishing rent production is a non-issue because they are gaining significant capital inflow via the deposits on C4D, NOI via the spread on the interest rates on debt, and in a high inflation limited supply market, ample demand. 

AND, on opposite side, an agent acting for buyer's IS the counter-weight.

Just from your reply above I bet getting this weight off your shoulders would be huge for you mentally.

Point being is that those who have decided to take the path less traveled aren't better or worse than those that haven't, but rather have made different choices based on weighting the information they have differently. 

It's a swell place for anyone trying to lose weight. 

Eat less, and you lose weight.

When it's from a legitimate lender and not a generic letter from a site that provides the service, it carries more weight when submitting your offers or getting extensions to purchase contracts.