So pass on any block that has been apart outside for any amount of time. If a block has been stored inside, pref in plastic bag, light surface rust on the cylinders is ok.
You want to check for a ridge in the top of the cylinder. The ridge is formed by cylinder wear from rings. A large deep ridge means a lot of wear.
If the pistons are still in the block check the top for a stamp, example .030 this indicates the block has bored .030" over standard. .060" is max for most engines. SBC 400 I wouldn't trust over .030".
look at the area the timing cover covers for 010 over a 020 this indicate a higher tin and nickel content, more desirable.
Inspect all the lifter boss for wear and damage, slip a lifer ,and rotate into each 1. inspect the main journals and caps. If the cap are missing they can be replaced, at extra cost and machine work. Also inspect all of the threaded bolt holes the are many but if the threads are bad on more than 1 you might want to pass.
These are steps I would take when looking at unknown block I was thinking of buying. After purchase and thorough cleaning I would be mic'ing every thing
I am curious why you are looking for a block, as opposed to a complete short block, new or used ?