While it is likely more expensive, it is certainly much simpler to manage a single policy though so it is up to you to determine how to proceed. 

So there is a lot of weeds around the concept that real estate is passive.  

Living in a multi-family property versus getting her dream home are two very different concepts and one would think her opinion is going to come into play there.  

I’m having trouble grasping the concept of BRRRR and why the numbers are ought to be ran a specific way.

Caution, there are some 'creative' concepts that may sound great but may not be good for every situation. 

With that money you could go buy, say, $300k worth of real estate as an investment, which is much more simpler to utilize for tax deduction. 

It certainly seems like people apply the term and concept inappropriately.

This topic has been beat to death in many different threads here on BP:https://www.biggerpockets.com/forums/61/topics/83228-infinite-banking-concept-cash-flow-banking-or-bank-on-yourselfhttps://www.biggerpockets.com/forums/519/topics/245380-paradigm-life-infinite-banking-whole-life-insurance?

Events coming up in THIS WEEK - MAREI North has its very first-ever meeting TONIGHT and they are talking about the Kansas City Market, flipping houses and BRRRR with several local investors leading the discussion.MAREI also has is 2nd ever - new concept meeting for members - we attended an event in Ohio last week as a model. 

As with anything in life learn concepts and understandings first.