If you really want to geek out on this I have a spreadsheet that calcs the life and LIfecycle costs for a dozen of the biggest components but it might be a little overkill.

Below some knowledge to share:Property values rise and fall due to recurring life cycles of development, stability and decline.The development phase of the cycle is also known as integration.

*my lifecycles and dollar estimates are wrong but this is simply a lifecycle cost analysis

Every property will have a defaulting tenant at some point in its life cycle.

Be careful with promising distributions especially early on in the life-cycle of the fund.

Go ahead and travel to just east or west of downtown, in KCK or KCMO respectively, and you'll find the same thing you experienced in Milwaukee, which is a certain segment of housing at the end-phase of the building life-cycle and nearing the point where it will get fixed up or bulldozed, starting the cycle over again.

It turns out the extra cost high efficiency one would of saved the tenants a whole 10 bucks a year in electric cost.As others have said be careful of other charges like the venting of it, possibly the contract you are under for annual maintenance by them, and you mentioned possibly half the life cycle ?

Those here who are familiar with more conventional investing may know about life-cycle funds. 

The smart ones bought apartments for 20K and are now worth 1.5 million plus.They managed to hold on despite the headaches.Gentrification and Lifecycles of a City from Boom to Bust to Boom again are very real.And it happens in every City - from Ancient Rome to modern Beijing.Pick the right City with attributes and drivers for growth, and follow the money trail.Where are the Investments going in?

Do the holistic lifecycle cost analysis mindful of what you're trading off making one set of choices instead of another.