What has your experience been, if any for switching out from tank to tankless water heater (electric)?

 

Hopefully your property has a water softener!!!

Why?? People want hot water. They don’t much care how it is made unless it is warmed by clubbing a baby seal.

My opinion is this: both need annual maintenance however, cost to maintain tankless is higher and if you don’t maintain them properly, you void the warranty and tankless are more expensive to install and replace.

Stick to what's tried and true. If you want to offer efficiency improvements, consider heat pump ACs maybe?
Heat pump water heaters look promising too, but I'd give them a few years of widespread adoption

I have considered going tankless on my rentals as the tanks need replacing but, the Maintenance is the biggest denture. Not to mention the water quality here in SoCal I could see them coughing, and I have had a few tenants that like to tinker with things when they think they can make them work better...
I do have an 8 unit property with a similar dilemma to yours... The units are 500sf 1/1 the kitchen has a pantry/ water heater closet, it would be nice to relocate the heater and some how squeeze a stackable washer and dryer in.

I renovate multifamily and single family in a historic neighborhood. Stay AWAY from electric tankless. Gas is good but electric is not good.

Issues after installation. Couldn’t get a few of them to work right so removed them and installed a tank. Water pressure has to be good, plus they have electrical/technical issues.

I just installed a tankless one. Pros- they last longer than the tanks, they come with huge rebates to offset the cost (in Massachusetts anyways), they use WAY less energy (mine is propane).
Cons- high up front costs, and it takes longer to get hot water when you turn the faucet on. Just 30-60 seconds longer, but it takes some getting used to. I thought it was broken the first time I used the hot water.