She has to live on the property for 2-5yrs as her primary and then if she sells it she eligible for cap gains defer up $500k if married filing jointly correct??

Am i able to use the equity of my parents house if they do a cash out refi and deposit the funds into a joint checkings account with both our names on it? 

I will say that in todays market you want to make sure you run your numbers conservatively and have a healthy reserve fund. 

I know that she has to disclose that she is a realtor if she were to make any purchase but do I have to disclose too for any purchase that I negotiate and might possibly purchase either for my LLC or jointly purchase with my wife?

I have a business account for the LLC that everything goes into, then I take owners draws from that whenever - not on a schedule. we have a joint checking and savings account that her W2 gets direct deposit into every two weeks.  

Husband is NOT a cosigner, but joint on the mortgage.  

They will buy the house and I will run it/manage it etc and be awarded 100% of the ownership interest of the house either via quit claim deed or a joint venture agreement.

I’m trying to find other wholesalers and other investors to Joint Venture with.

The tenants are jointly and severely liable for payment. 

Look for both appreciation potential in some of the southern cities (CA is tough because you can't cash flow) and of course, a healthy amount of holdings in a place like Cleveland OH (my market) or Columbus/Toledo type areas.