Will a tankless water heater provide instant hot water at all of my outlets?
No. Tankless heaters provide hot water within a few seconds of the first water flow from a cold start. However there will still be wait time because you must purge all the cold water out of the pipe between the distance from the heater to the faucet, showerhead or other outlet. The placement of the water heater can reduce lag times if its installed in your highest traffic area. You can also install a re-circulating line that keeps hot water following through a loop in your water system.