This being an oil site, I find it surprising that no-one has commented on the OCI requirements of the air cooled units. Wouldn't you need shut the unit down and change the oil every 50-100 hours, meaning 2-4 days? Water cooled units are indeed more expensive, but they often run at 1800 vs. 3600 RPM, making them quieter. They also tend to have a 500 hour OCI, which is almost 21 days. I am not sure what the point is with an air cooled whole house generator if the the thing is too loud for you to sleep and you need to change the oil after two or three sleepless nights.
Something to consider is that generator costs may vary a lot between types, but the installation costs won't. A liquid cooled unit, powered by either diesel or LPG, may not be that more expensive when looking at the total installed cost. LPG (Propane) is your best bet in terms of indefinite fuel storage. Diesel will be the most cost effective fuel. Diesel and fuel oil are somewhat interchangeable in this application, so there is an opportunity to share a tank if you heat with oil.