Here in the desert we frequently see heatpumps, but there is a furnace for "emergency heat. "  Not sure what the normal lifespan is, but the one in our residence is gettting pretty ricketty at 20 years old, and the heat pump just went down.  

We also live in California which is traditionally more litigious than other states, less landlord friendly and known for changing the rules (on everything...) frequently. 

I've been wholesaling in chicago for a number of years and I frequently wholesale in in the Bronzeville neighborhood.

Couple that with the fact that wildfires and earthquakes are becoming more frequent and the fact that the cost of housing has not responded at all to all of those issues and you can see why so many are eager to leave.

(Fun fact, my wife is Canadian and we go there frequently.) 

The person managing the  arbitrage will be doing frequent cleanings and small repairs, etc.Make your own decisions but I think there is another issue at play here that you're not letting on.  

AFTER removing the tile I started looking at how to patch over the hole - spent some time looking through tile forums (frequented by people who do tile for a living) and found that once you break the waterproofing on a shower, there is no sure way to waterproof it again - you essentially would have to remove all tile and backer and start over from scratch.

Painting needs to be done frequently and pressure washing the sidewalks and railings is common practice.

And I’m about a mile from the ocean which is still close enough to surf frequently. 

I like to walk around the house and knock on all the windows, doors and sliders as well before entering, because frequently homeless or squatters like to sleep in the closets with the doors shut closed.