I've done it and it does work.
The cut through the tank has to be precise in order that the element can cut it's own thread through the plastic, near the bottom of the tank but not too close.
Make sure you have a totally waterproof seal before dealing with the electrics.
I then have a timer switch which comes on about 4am so I have a full tank of hot water ready for when I arrive at the first job.
Remember this is sucking about 2.5 kw of electric so you can't share anything else on 'that line.'
I have the temp set at 60 degrees so not to damage the pump but I do run an in-line heater at the property if needed, the in-line heaters really struggle to provide hot water if the source water is cold, so this way I'm getting a near on constant supply of water at the wand of 90 degrees.