Lots of questions, electric has a slow recovery. Also you need to make sure your service to the house is big enough to run the heater. You compensate for the slow recovery by using a bigger tank and heating the water hotter putting it through a mixing valve to make the temp safe to use. You need to figure out how much water you need and how much you want to pay to get it. Propane sounds like a good option, but will cost more to install, especially if you need to install tanks and run lines.
If you want to do it cheap, electric is probably the best option, just hope your electric service is large enough.
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