Tankless Water Heater - Yes or no?

If electric, no

I say no

Our current home has a tankless Rennai for the master bath and a 70 gal for the other 3 baths and kitchen, this is working well for us, I’ve owned 6 homes and this is the first tankless experience for us but we like it enough that we will have it in any future homes we live in.
Looking at them online, they are twice to three times the initial cost a 70 gal but we like a lot of hot bath and shower water and the Rennai provides 125 degrees water non stop, until you turn it off. Both our water heaters are natural gas and the tankless requires electricity for pilot and controller, I think it also provides built in freeze protection.

As already said. If gas, yes. If electric, no.

It really comes down to your situation and what you value more.
Endless hot water
Cost
Ease of install
etc.

When I bought my house, it had tankless. Was great until it broke and the company was bankrupt. I had a useless machine. Converted back to double tanks. I have a small family and have never run out of hot water on tanks. I think it’s a luxury item that is costly to install and costly to fix. The biggest con as people have pointed out is it won’t work in a power failure which becomes a huge PITA if you aren’t Preparedness’s

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if you have gas, you would be stupid not to.

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I did the math and replacing my 40 gallon tank with tankless would save me less than $5 a month on my gas bill starting in year 15

OP here. We don't mind spending more money up front on the tankless heaters (2) if it's worth it in the long run. We have gas. Can anyone comment on the cost of operation over time of tankless versus traditional tanks in a gas-powered house?
Thank you.

To those of you running double tanks, are you running one tank on a lower setting, which keeps the water warm? Then, are you running that already pre-heated warm water into the cold intake of the second tank?

Or, are you just running a "tee" fitting off the cold water from the outside meter into both tanks at the same time and have both tanks heating the water to the same temp, and then running a "tee" off the outlet of both tanks into the hot manifold of the house plumbing?

Those questions probably sound stupid, but I've never heard of people running double tanks before until I saw this thread.

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To those of you running double tanks...

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Our current house came with 2 tanks, one upstairs (master bath) and one downstairs (everything else.) Water came in and split before the heaters.

During a recent down-to-studs remodel (thanks Hurricane Michael...) we removed both tanked heaters, installed a tankless Rinnai just outside of the master bath, and reworked the plumbing accordingly. It takes maybe 30 seconds to get hot water at the furthest point with this setup (and it's near instant at the master shower.)

Just bought a house that has tankless. Only thing I miss about my old tank heater is that it didn't take as long to heat up. For some reason this one takes a good bit of time. Maybe it needs to be adjusted.