Minor foundation issue?

[Lucas Hammer]

Hey everyone, I'm working on closing my first deal and the only issue I've found so far is a small foundation issue where it appears that the concrete is coming loose and I'm looking for some opinions on it and I wasn't sure where else to post this. 

We were originally thinking that the foundation might be sinking, but my dad, a contractor in Oklahoma, pointed out that the top of it looked fine and it'd show cracks if it was actually sinking. He said the picture looks to point him to a water leak as its just causing the concrete to fall. There is a gutter near this that isn't sealed well that would cause that to make sense. 

I guess my questions are:

1. From the picture, does that seem like it might be correct? 

2. Does anyone know of a foundation company in the city that might be able to give me even a ballpark idea from a photo? It's tenant occupied and not immediately accessible and we're deciding if we should accept a counter offer they gave us as a credit instead of repair. 

Thanks in advance.