There are variations in tankless water heaters; some are much more consistent in their output than others. They're also often the much more expensive models, none too surprisingly.
I would give up all thought of using an electric tankless water heater. Even a 50A 240V circuit dedicated to it would barely be sufficient for a very small capacity unit, and it sounds as though you only have a 30A 240V circuit (if it's only 10 gauge wire). A 30A 240V circuit is standard for a normal domestic electric water heater with a tank.
A gas tankless water heater would be more practical than electric. As others have said, it's far from a drop-in replacement; besides the obvious need for fiddling with the plumbing and venting and mounting provisions, it's possible that you would also need to upgrade your propane regulator (or add an auxiliary one) to provide sufficient gas flow.
Incidentally, tankless water heaters often don't end up saving much if any energy in practice, partly because people end up using more hot water than they would otherwise. That's not to suggest that there aren't other advantages that make them worthwhile in some cases.