If I deed and finance in a sole owners name, I can get much better financing. 

I'm currently working with several other investors in the area who are in your same shoes and are currently looking to invest outside of the Bay Area, so I know exactly what you're trying to achieve.I just watched California Association of Realtor's Year End Review for 2016 Presentation, An astronomical amount of people are moving out of the Bay Area and into the surrounding counties.

My reasoning for wanting to do real estate investing is I find joy in having a vision of my own and fulfilling that vision based solely on hard work and hustle.

For example some banks will underwrite the income based solely on 75% of the rental income (potential or current) that property produces.

im in your same shoes trying to get my first flip this month

I would go under contract in your name or the name of a general LLC you form that will be the sole member of all of the number-street name-LLCs.

(b) Which type of llc would be best for my situation (I could be sole or I could bring my wife into the llc as well - this always confuses me.. ).   

If I were in your shoes, I'd offer the friend debt only... a 6% loan with terms as long as your friend can handle.

(Now those that know me, after they've picked themselves up off the floor from laughing so hard, will say that's impossible...but here goes).Don't make this decision, for any specific property, based solely on the immediate "exit" numbers ($$$$) of that property.  

Are you planning on being a retail agent or getting the license solely to aid your investment path?