However, I know that I do not want all my income to be reliant on my day job and live to watch my retirement account grow.I am probably doing better than a lot of people my age but am eager to take the correct steps to build a real estate portfolio.

But, you get the piece of mind knowing it’s likely done correctly.

@Dennis Boettjer - everyone's comments above are correct. 

@Josie Sandoval, correct, this is very common.

Look for property for sale with the correct zoning or that you can get a variance4.  

You are probably correct.

A "pre-approval" sounds like a "consumer" mortgage rather than a commercial loan for investment real estate, is that correct?

Yes, wholesaling is tough to break into and to do it correctly is to have a good foundation of knowledge on the subject. 

The current property would be viewed as being owned by me outright with no mortgage since there would be no lien holder on the title, correct?

You may want to think about working with a realtor or a really good attorney to make sure you are set up correctly to start off in the best possible situation.