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I learned late that with the instant heaters, If you have a shower and just a few minutes pass and someone else showers they will get the remaining hot water in the line and cold water until the heater catched up. Think this would be very be very off putting good luck
How can it be different with storage hot water? The water that has cooled in the pipes has to be discharged and replaced with hot water before you get hot water again. Besides the water would cool relatively evenly in the hot water pipe so why would they get hot water at first then cold. It would be cool at first and gradually warm up regardless of the water heating system (unless you have some pre heat device).