I am at a very beginner stage in wholesaling and real estate as a whole.

Congrats on building the legacy.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

If you have time over the holiday period then try to read the beginner guides on this site:http://www.biggerpockets.com/real-estate-investingAlso check out the BP podcasts.

Events at your property such as a tenant getting hurt or alike are more of the liability concerns you are dealing with.

As to pre-payment penalties, you need to check state laws concerning residential or private financing transactions.

If you own a property and you've been there a year as owner occupied you can move out and get a LL policy on that property without concern.

I just finished reading the beginners guide, which I thought was great.I'm looking to learn the ropes and begin investing in real estate.

Highly recommended for beginners.

If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast.

Are you concerned with paying your Realtor when doing a deal with a private seller?