However, I would take some asset protection steps to protect myself on the front end. 

You also need to be ready to close if you can not wholesale the deal or have contingencies that protect your deposit.On market deals are harder to find in an up market but some investors are successful with agents doing this especially with properties that have had extended days on market without activity.

Dodd-Frank doesn't impact non-owner occupied properties and isn't designed to protect investors. 

Typically, the interest rate is .25%-.50% higher, but then can sometimes be negotiable depending on your situation.That said, for somone just starting out  it probably makes sense to put the first few loans in their name (unless they are purchasing with a few other people) to get your choice of ammortization and the lowest rate, and quit claim it to an LLC if you decide you want an LLC as part of an asset protection strategy.  

When it came to the investors putting their money where their mouth was they'd back out or when in to witness protection program.

The post talked about how you should have a business entity (lets say an LLC) and also insurance to protect your personnel assets from any claims resulting from a mishap at one of your properties.Lets create a fact pattern, bare with me.

Earnest money goes firm upon notification of the inspection to be notified on an addendum.I include all the standard jargon in our state's standard real estate contract, but put some of the things that I mentioned in addendum's to make sure that my interest are protected and I have a way out.  

and recourse if I don't pay (I explain how a foreclosure works and how a low LTV protects them).

I heard you should do that to protect your own assets. 

If you are using the TAR Lease agreement for your rentals and you are not an active REALTOR member of TAR, I suggest you take a look at #33 G before you get a big surprise when you need protection the most: