I installed a tankless electric at a remote building at the museum site that my wife helps run. Building is over 100 feet from the main, tank hot water heater. Even with a well insulated feed pipe, you had to run the water for five minutes before any hot water came out - and even then - it was only luke-warm. In this case, the tankless works great. Had to run a new electric service for it, though. It's a small, under-sink 1.5 GPM unit and required a 240 volt/20 amp circuit. There was a smaller unit available that only required a 120 volt/30 amp circuit - but it did not warm cold well water enough to be useful.
In regard to tankless heaters and thermostats - most don't use them, but you can special order them that way. The most common tankless units use a flow-valve and will rise the temp of any incoming water. Higher priced thermostat-controlled units sense water temp and can shut themselves off. Also, some higher price units have low-rate flow valves so you can use them in low-flow water systems.
For years, tankless heaters were a problem when used in certain off-grid, solar-electric homes. That because they often have both low-flow water, and also preheated water from solar panels and/or wood fires.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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