Hot Water Heater - Which one???

[Michael P.]

Hi All- 

I am gut renovating/expanding a 2300 square foot 2 family house into a 4100 sq. ft.  four family building.

Trying to decide which hot water system to install in each unit.  I am probably using heat pump systems for heating and cooling, so my needs to provide water for heating purposes will not be needed.  The property is located in New York City, so dealing with prickly tenants who lack patience should be assumed.

I have read about tank systems, tankless systems, etc.  For me it's pretty simple:  I want to (a) allocate the cost of hot water to tenants; (b) save on upfront capital costs to keep my budget in tact; (c) provide dependable hot water; and (d) check the box with long term investors I'm targeting for a flip of the property at completion.

Opinions are greatly appreciated especially from contractors/investors with low-rise multi-family experience in the northeast US.