Most of the time you need a shelter. It would be pretty cold standing out on the ice when its -10 out. We use small propane heaters to keep nice and toasty. As far as finding a spot, the easiest way is drill a hole with your auger and put down a portable depth finder to get the depth and look for fish. Once you have a spot picked out set up the shelter, drill your holes and start fishing. As far as bait goes it depneds on the type of fish you are going after. Sunfish we use a waxworm, like a grub. Crappies, walleyes, and northerns use minnows. I use to have a permenant fish house that I left out on the lake all season, but it got to be more work and always getting broke into.