It's no different than when the electrician shows up with his/her own labourer to send through the attic pulling wires behind them.Ironically, I know a fair amount about electricity and understand quite well how it works; though my professional experience is at a much smaller scale which you may carry in your pocket, wear on your wrist, use to access the Internet or which control large power generation systems.

All,One of my tenant (lets call her Julie) is the power of attorney for her mom's assets /medical treatment.  

There are ways inspectors can check the electrical service even if there is no power on the house.

Develop a system, more $ more buying power.

Once you have some real life education  and by being in the RE business you will start to meet those wealthy no time on the hands professionals that would love a smart agent to help them invest.. you now are working from a power position.

That way everything is in writing and signed.Also, if you are paying the water bill, I recommend looking into Guardian Water & Power's submetering service.  

Used the inspection as negotiating power for a slight drop in price...and it worked!

Quite frankly if th owner is in foreclosure he has no negotiating power at this point.Have you talked to the foreclosing entity, maybe you can substitute yourself into the loan and pull it out of foreclosure.If their is no equity left it may be better to look elsewhere for your 1st investment.

Pros-  Nothing comes to mind (you ARE managing the property FOR the owners right ;) ) Being the Property Manager often empowers you with good cop powers of mediation when problems arise.  

If so, that may increase your buying power.