I'm not sure what type of contract was used by the wholesaler who is being boiled, but it really doesn't matter as the wholesaler is lacking in several different areas of contracting and establishing an equitable interest.1 Lack of consideration to establish a financially measurable equitable interest, an equitable interest must have a value that is significant to the value of property.2.

My goal is to find dependable lenders and establish a working relationship

I want to establish some alternative financing sources to assure that this doesn't happen again.

Establish a payment history on those leases.

Its a gamble sure but the historic return on the stock market is 8% a year. 

Most established developers will always have an inventory of land so that they can jump in opportunity when it comes about in he future.

He also mentioned establishing a real estate privacy trust for each of my rentals along with an LLC.  

This is from the State of Florida website:Needs a LicenseDoes not need a LicenseAppraising or attempts to appraise real property for another for compensation excludes services that must be performed by a Licensed or Certified Appraiser under Chapter 475, Part II, Florida Statutes.A salaried employee of an owner of an apartment community working in an onsite rental office.Auctioning or attempts to auction real property of another for compensation.The owner of a timeshare period who later offers the timeshare period for resale.Selling or attempts to sell real property of another for compensation.Any person or business entity that rents or advertises for rent a public lodging establishment properly licensed in Chapter 509.241, Florida Statutes.Buying or attempts to buy real property of another for compensation.A tenant in an apartment complex who receives a referral or finders fee, not to exceed $50, for the referral of a tenant.

If you ask @Jerryll Noorden, it is all about the relationship, and establishing trust.  

As far as gambling goes, I'd like to put myself in position to benefit from continually increasing rents, and not put myself on the other side of the table.