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2002 FV 342 on Lake St. Clair - Past Commodore SHC - Vessel Examiner USCGAUX
Yea I’ve got the same set up as the pic but I don’t remember the valve shown on the cold side, wonder if it’s broken or should be open.
What you describe is pretty much how mine is.Pump comes on as soon as cold side opened. Short cycles at low opening, constant run on higher opening. Slight lag on the hot side presumably from a bit of pressure in hot water tank. But no bladder in tank that I'm aware of. Just like any marine or RV water supply pump they run on demand.