Cancel your contract and allow the new buyer and seller to contract directly. consult an attorney to structure so that you're protected.

Blimey ... also, dont escrow anything you dont have to, the banks squirrel cash away out of your pocket to protect them from you not paying ... this happens at closing and no one mentions it.

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.

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. 

If you go to Pine Tree Legal Assistance site,   ptla.org   is information geared for tenants and landlords from a tenants perspective.If you are a tenant at will (no lease)Yes.

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.