Even with general security agreement, you would still stack behind any lienholders who are already secured and perfected or even who have secured positions on any personal assets. 

So, updating a 1940s ranch is a perfectly reasonable sounding thing to do.

For example:General-Filters (furnace, air conditioning, oven exhaust, refrigerator, and water)-Stove burner when the “eye” needs simple replacement-Batteries and remotes that service the premises-Fan and light pull strings-Smoke and carbon alarms testing and batteries-Ensuring appliances are properly plugged in, hooked up, and used-Removing dirt, debris, and lint in and from connection pipes (e.g. clothes dryer)-Tighten loose screws on all home functions (e.g. doors, hinges, handles, socket -Balancing off-balance appliances-Cable, internet, and phone jacks-Fire extinguishers-Systems operation (e.g. security, irrigation, HVAC)HVAC-Monthly A/C filter and drain line maintenance Electrical-Reset “tripped” GFI breakers-Light bulbs (throughout and at the end of the tenancy)-Blown fuses-Reset breakers in the outside and inside breaker boxes-Socket and plug outlet coversPlumbing-Unclog drains or toilets-Caulking around tubs and showers as needed-Gas pilot lighting-Leaky faucets and shower heads-Toilet flappers, handles, seats and seat lids, tank lid, and flush kit-Sink and tub stoppers-If septic tank present, use RID-X as directed on consumer box-Proper cleaning of garbage disposal-Loose faucets and sprayer heads and hoses-Faucet filters (i.e. aerator)-Open exterior plumbing clean out when necessary (e.g. sewage backup)Exterior-Routine lawn (and pool) maintenance-Adjusting sprinkler heads as necessary-On the last month of tenancy, tenant must perform required lawn maintenance no sooner than 2 days prior to vacate dateThere’s a lot to consider as a landlord.

The reality is you would really be renting to and depending on the husband whom you can not screen.To be honest I have never had a perfect applicant so it has always been very easy to justify rejecting any applicant for a reason that is not discriminatory or a violation of codes. 

My other thought was to do an outdoor barrel sauna, and/or a stock tank pool for the hotter months.

My feeling is, if I wanted a house that backed to a park that is what I bought, and if other people wanted a house on a road, they should buy one and not destroy the neighborhood to put in yet another “luxury” cookie cutter house.I feel the same way about homes that are perfectly wonderful and function beautifully with separate rooms that have tons of character.

It's easy to see why buyers were captivated: Timeless elegance meets modern updates 4 spacious bedrooms 2 beautifully updated baths Over 2,800 sq ft of luxurious livingThe perfect blend of historic charm and contemporary comfort.

In a perfect world it will also allow me to input quotes as well as actual cost to complete each line item, so I can get better with each renovation.

I thought I had to find perfect house in perfect neighborhood with perfect terms.

If you decide to sell then having a tenant who wants to buy is perfect.