If offer is accepted tho, and we are binding into a purchase agreement should there be special wording in the contingency for protection?

A good HOA can protect your property and value; a bad one can destroy your enthusiasm for life and faith in humanity.

I'd just like my name somewhere in the contract that protect my interest but is that enough

I’m planning on buying at least 3 properties by year end and more ongoing in the future if possible.I don’t understand the best asset protection strategy.

I guess one could go enjoy researching and investigating another 10 banks and credit unions to save $20, but c'mon. 1% (max) savings on $58k ain't worth this kinda time and effort here on the forums or the pain and suffering of shopping around much, IMO.

That said, if his wholesale contract with the Seller is set to expire in a few days, he probably has no agency agreement protection for having introduced you to the property like a Realtor would have. 

To successfully sue the contractor, you’d likely need to prove that he breached the contract and that you suffered actual damages.Sounds like that’d be pretty difficult from what you posted, but even if you did win you’d still have to collect.

All of this is basically insurance you need to protect yourself.  

We have many consumer protection statutes, but we truly live in a Buyer Beware/ Caveat Emptor world. 

So as long as they were healthy and able to work, they did great, and the moment their health suffered, they were rendered homeless.