Virtually all large cap ex items have a life time beyond 8 years.   

I can price and use AI all I want, but I'm wondering about real life experience what to expect?

If you remodeled, added a room, replaced a roof, painted, boosted the curb appeal, etc. that's a different story.

What is the point behind having paid off real estate, if you lose it later in life to oppressive taxes?

I've done it twice here in Reno, NV, and it's changed my life. 

If a dishwasher is 15 years old and the tenant destroys it, you can't really charge them much because the appliance is beyond the life expectancy.To learn how to determine charges for cleaning and repairs, you can read my book in my signature, Brandon Turner's Managing Rental Properties, or NOLO's Every Landlord's Legal Guide.

How many people every year pour out there life savings to come for a vacation, just from TX, not even mentioning the US or rest of world. 

Rinse and repeat as many times as life allows, or convert to buying pure investments.Consider employment with a property management company.

People have mortgages, kids in college, caring for elderly parents or kids with special needs/ Many of them now have no idea what life is brining for them in the near future.

I understand that nothing in life is free.