Likewise with the sheetrock.For the A/C compressor, maybe add a bit more detail: "Install new exterior unit of the same size (tonnage) as the existing unit and using a builder-grade manufacturer/model."

The house is on a slab, and the siding goes basically all the way down to the ground, which is not graded at all.

Both parties spoke different languages- the lender spoke ROI, ROE, WAC, discounted cash value, etc. while the project developer spoke excavation and grading costs, the price to import and compact soil, installation of curb and gutter, etc.

There's a group in Los Angeles that can provide 'tenant screening credit checks', but you give a FICO score as an input and they grade the tenant as A,B,C,D,E,F.You see zippo of the real data and only a broad-brush classification - - that's worthless IMO.

In my experience, older homes (pre-1930's) tend to be very well built and with higher grade materials.

This could be as little as clearing the land of brush, to having it professionally graded/leveled, to having municipal services (utilities/roads) brought to the site.

The issue however came because up until a certain point in time (I would guess sometime around the 1940s roughly) it was common practice to dig down below the frost line, start building the rubble stone or block foundation but only bring the wall up say 1.5' above grade, then wood frame the floor system directly over the dirt with no crawl space below.  

Fix the grading now rather than waiting until spring!

That will tell you whether they likely know what they're doing or not.In general though, if you're looking at properties in Baltimore County (where it appears you live), anything in the $600K+ range likely warrants a reasonable attention to detail and at least mid-to-upper grade finishes (real hardwoods, for example). 

From where I'm sitting, I'd say you're going to have an erosion problem at grade first.