I’ve never used a lifeline, and just watched a tutorial on three ways to accomplish this. The third way was to use a smaller circular needle and pick up just the right side only of knit stitch only. My question is why only the right side of knit stitch and not both. The work is ss btw. Tyvm. 
A stitch has one loop and this sits around the needle with a leg to the front and to the right and a leg to the back and to the left. When off the needle these form the V shape of the stitch.
With a life line you only want to pick up one leg, the right leg which will sit to the front of the needle. The left leg or back leg will then sit behind the needle Nd the stitch or loop will be caught up.
If you tried to pick up both legs what you would really be doing is putting the needle behind the entire stitch, the loop, none of it would be on the needle.
Then when ripping back to the life line all your stitches would fall off and ladder.
Try a swatch and experiment, it’s really useful to learn how the stitch works and how the life line is used.
Hope this helps
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This is a good article https://www.10rowsaday.com/lifeline
When I’m knitting lace (or anything really) I always put a lifeline in on the WS, because most of the time the WS is just knits or purls so it’s easier. I put them in at the end of a pattern repeat then if you do need to go back it’s an easy place to start.
I find thin cotton yarn the best for lifelines because it doesn’t fray and is smooth. You want it in a high contrast colour to your knitting yarn so it’s easy to see.
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Ooo something very important! If you have stitch markers in do not put the lifeline though them, go around them.
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