That's not counting the tax benefits. 

It is perfectly reasonable to plan for the possibility of coming into some money and needing a place to put it where it will grow tax-free for the rest of your life.Here is a Lara-Murphy Report podcast episode about this very topic.I've written fully overfunded policies, I've written policies leaving "room" in them, and I've written policies with no Paid Up Additions rider at all - because in each case it was the best thing for my client - and in each case it still kept to the spirit of the IBC strategy.IBC training is about understanding the macro-economy, the role banks and the govt played in the last two major recessions, and the benefits of creating your own sources of capital using dividend-paying, cash value whole life insurance.

I had negative $600 cash flow each month, not counting repairs/maintenance.  

Sort of rural but busy local car counts along with some commuters.

Also, if I get a Heloc on a free and clear property, does it count as a property under mortgage once I open the credit line or only if I draw on it?

I will be saving all profit from the rental for capex, maintenance, etc. while counting my saved money on rent as income for the property ~$650/month.

I'd like to hope we could expect some appreciation at some point but I honestly don't think that I can count on that until the city makes some big moves.

@Craig Kincade congrats on your deal counts...

@Leroy Crosby The lender will count rental income of other units according to appraisal report rent comps.

Should I just count my luck?