Looking at a triplex later today which from the pictures needs its shake roof replaced. This property will be a buy-and-hold which begs the question of whether I go with a bit more expensive metal roof or asphalt shingles. I've read that metal will last possibly twice as long as asphalt though a tad more expensive to install. Most roofs in my area, Cheyenne, Wy, never make it to 30 years and are lucky to make it past 5 years... Any opinions?
You may want to check into the cost of metal first. A tad more expensive may be wildly incorrect depending on the area.
In my area metal will cost 3X as much as asphalt. This is not cost effective for a rental based on the fact that no investor knows how long they will hold.
In my area asphalt will last 15 years and metal undetermined, possibly 50 years or more. I would stay with asphalt on a rental for cost reasons.
I like to think of it in terms of leveraging your money and where that money is best spent. 15-20 years of life span on asphalt and let your tenants pay for it over time or pay upfront and let someone else inherit the savings long after your gone. Instead, put as much towards your next property purchase and don't look to maximize expenses on existing properties.
metal will likely need to be replaced within 3 years due to the yearly hail we get here. asphalt with the highest hail rating possible.