Nicotine might raise the blood pressure (but it might not - test yourself if you're not sure)
Nicotine seems to have a few other possible adverse effects on human health, though nothing really alarming AFAIK.
There's little known about the long term effects of vaping VG and PG, though again there's no hard evidence of any great harm so far.
Faulty, badly-made or badly-used vaping equipment might lead to inhaling something toxic such as formaldehude, heavy metals, or battery acid. Mostly you'd probably know from the taste, but not necessarily.
Toxic impurities might get into the supply chain for e-liquids. The authorities are starting to insist on testing, but still.......the tests might not be perfect and bad stuff might somehow get past the goalie anyway.
Some flavourings might turn out to be harmful when inhaled. The authorities often allow food flavourings and colours that are of questionable safety, and I'm not sure if they appreciate that inhaling a hot vapour of an additive is different from eating it.
Seems to me it'd be safer if somebody could invent a device that worked with just nicotine and water, without the PG, VG and whatever else, but maybe that just doesn't work.
Bottom line, nobody knows yet, but there's good hope that it's not that dangerous. Haven't heard of anybody who's vaped for a decade coming to any harm through it, which probably isn't true of tobacco, what with the smoker's coughs and poor lung function etc., though with those numbers the carcinogenicity might not be apparent in the first 10 years, and cancer is pretty serious of course.