Yup. If you are going to play these hands, you have to win more that this when you hit the flushes. You also have to play some of the flush draws hard enough to win unimproved.

Sadly, that does mean you are going to get stacked some of the times you are in flush over flush situations. Too much of these hands' value comes from winning a big pot with a flush to instantly get MUBS when the flush card hits.

That is why the better players here are telling you to fold them. Not me though. I play for fun, not money, and these kinds of hands are really fun to play.

I would have raised preflop. It's a great place to widen your 3 betting range from the blinds.

Preflop is defensible. If it is a mistake, it is probably not a huge mistake if you play well enough and your opponents are bad enough.

Flop is meh. Leading out, check-call IMG, and check-raising all have their merits, depending on how opponents play. As played, if check-raising knocks out a higher flush draw and gets it heads up against a king, that is a good result. V2 doesn't seem like the sort to fold a flush draw, though.

Turns feels like a call and re-evaluate on the river. The possible high hand bonus should make any close decision an easy call.

Just a few thoughts on the hand:
If V2 in position is LAG, chances are real good he's popping the flop bet with higher club draws. There's also a good chances he's raising on the button preflop with high suited connectors (A-x, K-x). If he has a hand like Q4c A4c, or J4c he's probably raising in position on the flop also. In my mind he's go some sort of middle pair + gut shot hand, or a king that really wants to 2pr the turn. In any case, if you're going to play this hand way out of position vs a field, you should always be trying to isolate on the flop against the guy with the King. Because of the preflop action it's unlikely anyone has AK here. It's a great spot to CR big, because you know a LAG is acting after you, and your hand plays pretty well in all in situations versus a top pair type hand. Also take into account the fact that most of the table has you read as a tight player/nit, people are going to put you on a higher king or set and you'll win the pot outright without gambling a large % of the time.
Hope my thought processes help out.