I need a max of 118,000 BTU to run a tankless water heater.
I can go with a smaller unit but. really need a flow rate of 2 GPM.
.. and I want to go with one of the cheaper units available.
The answer to this question lies partly in where you live on this big spaceship we call earth!
A propane container that is turned off has static liquid and vapour above it. When you turn on the tank and fire the appliance, you are drawing off vapor and burning it. This reduces the pressure in the tank and the liquid begins to boil to replace the vapour. Propane boils at -44°F so it is giving off a lot of heat when it boils. The tank has to absorb heat out of the air around it to keep the liquid boiling. If you draw off more vapour than the tank can produce, it will freeze up and starve the appliance of fuel. The colder the outside air temperature is, the larger the tank must be to provide the same amount of vapour. Think about a pot of boiling water on the stove. Little pot= a bit of steam, big pot = lots of steam! Same thing.
So, now that we understand the principal involved here, I will say you are never going to run that thing on a 20 pounder. Just as an example, a 100lb cylinder produces approximately 50,000 btu at 32°F (0°C), so you would need 3 100lb cylinder connected together to operate that unit for any period of time if the temperature where you live gets to freezing. Granted, those things run for short periods of time, but still, you would need at least a 100 gallon tank for that to operate properly in most cases.
The other thing you have to consider is that 118k btu is going to consume almost 1-1/2 gallons an hour while it runs. So 1 20 pounder is gone in about 3 hours. An average furnace is 80k btu, so this is burning more than that when it is running.
Tell us what your average and your coldest temperatures are and I can tell you what size container you should be using... Hope this helps!
Edit: If it's not hooked up correctly it wont work! It wont explode! Propane tanks don't self destruct if their not hooked up properly. There are many safety features built in to cylinders and fuel burning appliances to prevent that. A cylinder exploding is a very rare occurance, and a specific set of circumstances are required for that to happen...
You don't need to be afraid of propane. You need to have a good healthy respect for it! But not be afraid of it...