The foundation is the Most important part of the structure and the inspection. Issues with the structure can be costly and hazardous.
Things to know: Cracks in Ohio and Pennsylvania on walls are typical. No reason to be alarmed. Settling cracks run zigzag down the block structure. Typically at the corners. If the crack is tight (less than 1/8" in thickness and no inward movement is evident) than the wall is typically "ok".
Looking for vertical cracks through the block is the first sign for concern. Looking at cracks and bowing horizontally is of prime importance. Thus the foundation walls, ceiling joists, cement flooring and other areas are of prime importance during a home inspection.
Water intrusion is also evaluated. Stains, puddles, rivers (I wish I was joking) at the basement is the Number 1 concern of all homebuyers. Second to none.
What we can't see is not evaluated. No we cannot see the base wall, whether it be block, concrete, tile, brick, or other material. So no. it would not be inspected. If the walls are freshly painted or the stains are concealed we cannot evaluate them.