I don't know about reels but Maxell Metal Vertex cassettes that I use can seemingly last forever. Some of them have 500-600 plays on them and they sound as good as new, as far as I can tell, a little noisy when rewinding but I rarely do it, anyway. I also use LAST Factory tape head preservative before each play, and of course the head is always cleaner than in fact it has to be.
Cost of a refurbished Otari or even Studer and Ampex can be about the same as the cost of a high end cartridge, that means low if you've got the funds. As Bill said, cost of master tape dubs is another matter, well, depending on what you buy and how many.
In any case, this tape endeavour is for a very dedicated audiophile, you have to be truly engaged.

