So i noticed this listing which is on the other block from my primary residence.

Might turn out to be a pretty nice block, but that is speculation.

It is a small, well taken care of beach cabin, two blocks from the beach, in a great summer vacation area... winter not so much. 

Garden level rental rates are going to vary block by block and depending on condition/amenities.If there is a specific property you are asking about then maybe you would get more traction.

I'm from Chicago and in my neck of the woods Security Deposits are a giant pain in the butt if you're a landlord.  

Like most cities, Birmingham can change from block to block, so I wouldn't recommend buying site-unseen without some serious knowledge of the area or at least a trusted team/partner who knows it well.

I don't go through that much time, pain and money for something I don't own.  

Its just a major pain. 

Can I simply block each end until they buy it from me?

They may block that address out, so PM me for the contact information.Yes I've done JV partners before.