Foundation repairs after inspection

[Jade N.]

Hello All,

I placed an offer on a property I thought was a good deal. However, the inspection revealed that the foundation had undermining and there were 2 vertical cracks in the foundation that need sealing. The response from the seller who is an investor is that the the basement has a"floating floor system" so when the tenant puts heavy items on it, it pushed up the floor in other areas. 

I'm trying to determine where to go from here. I want to at least have a contractor come in to confirm the information provided makes sense or give me a quote on repairs. I'm told that the foundation cracks aren't too expensive but the undermining and uneven floors concern me. I would hate to put too much money in the property making it not worth the investment. 

Can anyone provide any guidance with this problem? Should I be concerned about this floating floor system was inspected to be undermining? Is that a common mistake?