I have this heli and it is very good for the money IMO. Parts will need to be ordered thru the mail unless you are lucky and your local hobby (LHS) has them. Common replacement parts are the main blades, spindle/feathering shaft, flybar, and tail blades.

Some common questions are;

Do you have a simulator?
Do you have any experienced heli pilots that can help you out with setup, flying, etc?
Do you want to fly indoors or outdoors, and if out, what is the weather (wind speed, wind gusts, etc) like in your area?

Consider the following tips for new heli pilots;

1. SIM (a simulator can save you lots of time and money).
2. Setup (preflight setup adjustments are critical for successful flights and I recommend that you use training gear as well).
3. Practice (makes perfect and the "RADD" website for heli training can be a big help as well).
4. Patience (Give yourself time to learn and try to walk away from it for awhile if things are not going well).

Coax (dual main rotor) helis, such as the Esky Lama are easier to learn on but are best flown indoors or in zero wind conditions. These cost ~100 USD.
The HB King 2 is just large enough to fly out doors in low wind conditions (you will want to learn in zero wind conditions). These and other collective pitch (CP) helicopters are more complicated then coax and fixed pitch (FP) models.
You may want to consider something in between the Lama and King2 such as the Esky 4 channel FP for about $125 USD or so. These are somewhat more difficult to learn on then the Lama but are not as complicated as the King2. They also can handle a bit more wind then the Lama.

Good luck and good flying!

P.S. Don't forget to wear eye protection while operating or working on your model.