Okay, when it comes to game sharing on the PS4 it can get a little tricky. I game share my one friend and everything is working well. This is how I have the game share set up between me and my friend.
I deactivated my account which I bought all the games on.
Then my friend deactivated his account as primary.
Now, I activated my FRIENDS account as PRIMARY.
Then he activated MINE as PRIMARY.
All the games I bought I can play on my account and all the games he bought I can play. Now this is where things get a little tricky. I have another account I play on but I could only play my friends games on that account since his is activated as primary. I cannot play any of mine games on any other account , only the one I bought all the games on.