First, Lil B isn't broke. Dude has a small team and tours all over the world (literally). His overhead doesn't appear to be very high, he isn't signed to a major and therefore doesn't owe a label any money. He makes really good $$ offa YouTube views since many of his videos get like 200K plus views and he has several videos will millions of views. He's also shooting/editing his own video and (clearly) doesn't spend money on clothes/jewels and DEFINITELY not shoes/sneakers.
He's making $ and eating but I don't think that's what he even cares about (or he woulda been signed a deal)
As far as his "flow," being bitten/stolen, I don't think he gives a shyt since a lot of these Chitown/ATL cats will be non-existent and he'll still be around. Dude has been on this Based God shyt for like 5-6 years already, has a strong core fan base, connects to them directly on FB/Twitter/Tumblr. He seems more concerned with connecting with the fans and dropping music whenever. He doesnt have a label hounding him for turning an album in and isn't pressured to sell for a label that he isn't on. He picks his own beats, so no A&R bullshyt to deal with and isn't worried about getting radio spins so theres no dikkriding DJs/program directors.
He might not make the kind of music you fukk with but he has the kind of "career" that a lot of y'all favorite artists probably wish they had at this point