Is it pure cash flow or building long term equity, flips to buy lots of gold chains, etc...

A good PM is worth their weight in gold, but with a good team it is easier than you think to Self manage.

I'm just not sure why this is vital information as long as you can estimate your costs vs. your potential future rents.2. 

My advice would be to find a property manager that you like (I like Gold Medal so far) and see what areas they recommend. 

Having someone who knows that, and can put boots on the ground is vital to making it work.

This is what I suspect - That all that other information is only vital/relevant if I plan on using it, but if I'm starting out as a basic salesperson I doubt I'll need to know all of it off the cuff.

Why I say that is, remember the Gold Rush of 1848 in California and 1858 in Colorado?

walking into a property pulling the carpet finding hardwood bingo i just stuck gold original flooring in a property thats 40 50 60 years old says aloat about a home i try to refinish as much as i can, some times you'll run into areas you cant refinish but if you have a full home of hardwood depending on what you need you can sacrafice a closet remove wood to patch other areas or sacrafice a bedroom if need be. lets say i have a 1960's original muscle car original paint what does that say for my car although you dont know that i replaced the front door and fender from the same type of car with the same color has the car ever been repainted no

There is still comedy gold to be mined in them thar hills.

I received the same "40 years and the gold watch" advice from my parents when I was starting out.