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Hot Water Shutoff
(thelemmy.club)
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How long can you do that for, it won't cause issues with the heater without turning off the power?
It shouldn't cause issues, since the water will remain in the heater without any pressure to push it out, there's no difference between leaving it sitting with the valve open or closed.
Now, draining the tank could actually cause problems.... But there's not any reason for you to do that for what you're trying to accomplish.
Turn off the power to the heater before doing any work
As long as there's water inside the heater it's fine.