They have to get some engineering done and a soil test before they apply for the permit. ( Est. 2 weeks) Fresno wanted 4 weeks for mine permit and we decided to pay extra which is supposed to bring it down to 2 weeks.

Is there hardwood underneath the flooring? 

Certainly get a look inside and do your inspection which for me is a crawl underneath and the whole deal.

The majority of underground tanks (up to 80%) leak and if it does then you have soil and potentially ground water contamination to deal with.

The soil is clay based, so one of the mantras is "there's only two types of houses in Texas, those with foundation problems and those that will have".

Remember, in these old houses, lumber was milled locally, in many cases on-site, and frequently by hand, so why would you invest effort to mill a support pier that will be unseen in the basement when it makes no difference to its function.As Brian indicated, houses were built experientially back in {pre}Victorian era and lumber was not graded as it is today - mind you, much of the lumber was of a far higher quality than what we harvest these days.The key thing to look at is whether these unmilled piers are set directly in the soil or if a footing (likely stone, but possibly concrete) was put underneath it.

Over the weekend the local newspaper ran a story about a particular neighborhood having issues of high lead content in the soil.

I've painted paneling the same color as the other walls, without spackling, which tends to come loose.Also have removed paneling and if walls ok or needed a little patching, then paint.Or if walls are real bad then you can add 1/4 inch drywall, its about the same thickness as the old removed paneling and makes the walls look brand new and has the backing of the old plaster underneath.

There had been a "smelter" in the area in the 1800's and some properties had shown high lead content in the soil.

One thing that can help you determine what you're getting into is having a core sample taken of the property. it will tell you soil type, groundwater and rock depth. if some rocks are big enough you might need controlled blasting. if your basement is below the stream bed grade wise, you would likely have to be pumping water 24/7 during the construction part. im not sure how well a poured concrete wall with the waterproofing on the outside will stand up to the water, but of course it would be better than a block basement. builders would reccomend under drains to drain the water. the best way to do this is mechanically, without a pump or you could still wind up pumping water 24/7 after construction is complete.