Now, keep in mind that grade around the structure may have changed since then. 

I have read a few posts on BP (Indy neighborhood grading etc.) and have done my spreadsheet calculation. but anything else I should be aware of or pay attention to?

And roughly a few weeks after moving, still unpacking we noticed some serious grading taking place on the other side of our fence.After doing some research with the help of our realtor we ended calling the department of public works to enquire about the construction and they confirmed that there was no permit for grading or construction and that there hasn’t been any in the past 15 years.

There is a reason some people call lower cost materials rental grade.

Contractor grade simplicity 

A = nicest house in the best school districtA- = decent house in best school districtB+ = Rental grade house in best school district or nicest house in okay school districtB = decent house in okay school districtB - = Rental grade house in okay school district or nice house in bad school districtC+ = decent house in bad school districtC = rental grade in bad school districtD = gangs and drugs infested area. 

I am currently a second grade teacher looking to turn real estate into my full time day to day career.

The association of builders puts out an annual cost survey/outline for new builds by area with average costs for grading, slab, framing, everything including interior finishes.

Lots of the Midwest will hit the 1% rule if you're in C-grade areas.

In your "construction cost", is that including development of the land, I.E. cost of roads, site grading, utility infrastructure.