Thank you ! Thank you! & Thank You everyone for your wonderful kind and
generous advices. I have considered everything from Feliway to chiding husband
(can't exactly kick him out ...yet!!).

Yes I agree to those that say time and some behavior modification is required
(from both husband and pet)!

My husband gets really upset when he comes home or comes downstairs or is
around and she just takes off like a jet when she sees him! He really likes
her, loves her and we both just adore her but when he comes home he's tired and
the last thing he wants to do is to have to deal witha  cat who rejects him BUT
he is doing what it takes - giving her time (lots of time), space, etc. We both
acknowledge that this is not going to be an overnight solution and hence, the
time and respect for her present fear of him. Cats I have learnt, if you force
something on them, by golly you're going back 5 steps!

BTW, we both probably understand now why she became an abandoned cat by the
previous tenants. They probably did something which really terrified her and
she took off and they probably did it again and again and she took off so much
so that they could hardly see her around anymore. No wonder they conveniently
found another pet - a dog! So taking all into consideration, we appreciate her
current behavior and will do our utmost to avoid any such occurances.

Once again  thanks to all for your comments :)  I truely appreciate it. I
needed to hear from people who understood cats and are defginitely more
knowledgeable about them than I am.