Compiling a .vtf in Duct-tape is so easy a blind elephant could do it (ok maybe not although it would be funny to watch him try).Anyway back on topic there are a few trick you need to know hece I am creating this section.
Right so I start of by place a .tga file with my image in the directory created by duct-tape (duct-tape supports a wide range of image files so don't be bound to .tga). Now when you have you images in that folder they should show up in Duct-tape automatically (clever huh). So now to created a texture right click on your image and click add to new texture.
Now you should see a 3d view with you image apply to a flat plane and a set of properties on the right hand side.
In this image of the property page I have already filled in all the required information needed for me to compile my vtf. When you have done the same save the texture build script to some-where in the mod folder created by duct-tape I choose the image folder (not needed just for organisation).
Now when you go to the textures folder in the mod files section you should see a folder call unbuilt-(foldername) open this and you should find your texture build script you saved earlier, now right click on this and choose build.
Now wait for it to build and your done you should be apply to find your texture on your hard drive in the correct loaction (as shown below).
A quick tip: Once you have build it you can make changes to the build script and build again by right-cliking on the texture and selecting build.
VMT creation was not intergrated in the version used to create this documentation and therefore isn't valid here. To create a .vmt I recommend either using examples found on the dev wiki or by using vtf edit. Although if .vmt creation is intergrated and there isn't a section of that pm on interlopers to tell me to hurry up and create one.