I've just ordered my first resin kit after being in the hobby for over a decade. I've worked with metal and plastic and has no issues but I've heard lots of horror stories of mishandling resin leading to health risks.

What precautions should I be taking while working with resin and when cleaning up afterwards? I plan to work on newspaper, wear a filter mask and use only wet sand paper if I have to sand anything. Is there anything else I need to be concerned with?

I think you covered the main point--sanding and dust. Just touching a piece of resin should be OK. But it's when it's ground fine, as in sanding, and the dust becomes airborne and we inhale it, that it can lead to long-term health issues. Don't lick your model, either.

Otherwise, I'd take the same precautions as I would working with any of the other toxic substances we use in our hobby, the solvents and glues. Work with good ventilation, wear gloves if you feel it necessary (such as when mixing putty), don't gnaw dried CA glue off your fingers (there was a toy soldier collector/painter who used to do that), and so on.

Prost!
Brad