Cement block construction works great. 

It's like living in the Soviet Block in 1970.I advise against investing in HOAs because there are too many problems.

Its an ok neighborhood - lots of people who have lived on the block for a long time.

He can estimate what we spent, I wouldn't want him to have to try and justify a 40k markup, we were already the most expensive house on the block.

One block can be a no go and 2 blocks over can be ok to invest in.

As @Benjamin Weinhart mentioned, there are some potential stumbling blocks with trying to drag out the sale until parents pass away. 

It's in a desirable low vacancy, high demand location that happens to be in a mixed commercial / residential semi-neglected but very safe area 2 blocks off a major shopping street. 

Once recorded, the owner/seller of the property will not be able to close on the property without addressing this issue, thereby blocking them from cutting you out and selling to another party.Other than that, keep in mind it is VERY difficult to win in court for specific performance to force the seller to sell.Good luck, and keep moving forward!

To provide a bit more context:- the first floor is a parking garage with concrete block walls and stucco siding- the second floor - the first habitable floor) is having significant water seep into the back wall (stick framing, stucco siding).

Apparently, because this was auctioning taxes not paid in the first years prior to the financial crisis, there were more properties on the block than ever before in Franklin County - over 40.