It depends what respiratory disease it is and the strain. Some strains are mild and others are severe.
From the sound of it, you might be dealing with a mild strain of Mycoplasma Gallisepticum (MG).
If in fact it's a mild strain of MG, your birds can live a long time. However stress can bring out symptoms and you would most likely have to start them on antibiotics again.
You will have to maintain a closed flock. That means no new birds in, no birds out, ie... no selling nor giving birds away. MG can be transmitted through eggs. That means no selling nor giving eggs away to be hatched. Eggs are safe to eat, MG is not transmittable to humans.
The only way to tell for sure what you're dealing with is to have a bird necropsied, preferably the sickest bird. You can contact your local extension office or agricultural department to find out how to go about getting a bird necropsied.