@Jim K.Thanks — these are good points, and honestly can totally see myself getting too personally invested.

Unfortunately I am not able to sell the house because my wife is extremely attached to this house.  

@ Cody Weiss I am not quite sure to be honest,  that is why I wanted to ask the question and see what the more experienced think :) In my mind, if we're out of nafta, this will put a strain on the auto industry in the region more than anything else, resulting in job cuts -> less ppl that can afford to rent in the city.

I live extremely rural in a community of 10,000. 

Then, send out your scope, timeline, budget to local trades instead of asking strangers to be honest with someone who doesn't know anything.The more you know, the more success you have.

Honestly... look at the future of the tenant. 

The neighborhood is extremely high in rent demand with more than 70% renting.

However, there continues to be a shortage of available homes for sale, and the homes that are for sale are priced on the extreme high side or are going into escrow in a matter of days, resulting in a need for rental units.A business partner of mine just recently purchased a 3 family in Western Massachusetts, remodeled kitchens bathrooms and re did the wood floors, ( all affordable renovations), and increased his rents by over 19%!!!!

Oak was only rarely used in US housing built in the 1900s as framing lumber, for the simple reasons that most varieties of oak don't tend to grow straight, oak grows much slower than most pine species, and oak is usually extremely heavy.

I understand that you've asked what you believe to be an honest question, but the fact you've asked it sheds light on a gray area you're wandering around in looking for a plumb-line by which you can measure whether something is ethical or not, and you’ve come up empty.