So you really, really need to play the exit game and look at each unit and say " If I approached this tenant for a rent raise and they had to get out how much per unit would I have to put in to land a new tenant?"

It plays a very minor role.

Buying TK is a long term play. 

Its a tough game these guys play.

So I'm a budding investor, looking for the first property.   When I contact others in the real estate industry (bankers, brokers, realtors, agents, etc)  how forthcoming should I bring up that I'm new to this?Are peop...

We look at many properties in Houston and termites are never brought up by our clients unless there is obvious foul play caught by our inspections.  

It helps to be familiar with vendors too, my rule, ignore small unknown sources for maintenance receipts/charges as many play games, larger reputable companies will have more standardized pricing.If you can determine vacancies from lease files, good, but still be careful for leases that can't be verified by lease receipts/deposits.

I told them that I don't know I don't really play them.

It means you are playing on the court, not sitting in the stands.On the surface your numbers look great, but when I looked at your per unit cost your expenses seem very light.

Apparently my tenants children were playing outside with some other neighborhood kids and the neighbor came out yelling at them about playing with the rocks on their property.