Tankless vs traditional hot water system

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Good evening bp family.  I would like to get opinions on hot water heaters vs tankless heaters. We have a 3 unit building with 3 separate water heaters for each unit. There is only 1 meter for the house so we have to pay for water. 1 of the heaters need to be replaced.  Some say I should replace it with a tankless system because of the energy efficiency.  Others say to put a regular hot water heater in to keep the replacement cost down. What are your thoughts?