is the structural engineer correct??

[Ryan Fox]

I recently used a structural engineer to do a visual inspection of one of my single family rentals.  I haven't used this engineer enough to know if his opinions are valid, so I wanted to see if any investors find his opinion questionable.  The property has had about 2" to 2.5" of downward settlement on one side of the house, which has caused drywall cracks and uneven floors.  His opinion is that we don't need to install piers right now, but we should focus on making sure water doesn't flow towards the house from the outside.  Does this sound right?