Are there any hidden risks to wholesaling?

[William Presley]

I am new to real estate and, like many other newbies, have decided to start off with wholesaling. The reason I've decided to take this route (and I'd assume many others have similar reasoning) is because wholesaling seems to present very little risk.  I understand that there are marketing costs, but those are set costs and you decide how much or how little you are going to put in to it. You're not guaranteed to get a return on your marketing costs, but from what I understand there is no risk to losing any money in addition to your marketing costs.  Am I completely wrong about this? Is there something I'm missing? Or is wholesaling real estate really as risk free as it seems?