The wealth has just been transferred into a different asset/instrument. 

See page 7, paragraph 6 of this next link; this is excerpted in a quote below:https://www.efanniemae.com/sf/formsdocs/documents/secinstruments/doc/3039w.docOriginally posted by PENNSYLVANIA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3039 1/01:6.Occupancy.

Just like Bonds, ETFs, Foreign Stocks, CD Ladders, et al... almost any instrument you see suggested has an equivalency in real estate.

These instruments are a deed, note and mortgage. 

I switched to electrical and instrumentation when i had kids for the insurance.

And when the music stops, I'm trying to make sure I'm standing by ready to be a willing buyer when most have left. 

As far as whether to cash out or parlay equity into other financial instruments or avoiding taxes or paying taxes or deferring taxes or market appreciation on X many properties or how many millions they’re worth are really questions only you can answer going forward since only you know what you want, and only you really know what it’s gonna take to get there.

and all the avenues to expand outside of SFH.BP has been instrumental in my purchase as well as my new career!

You are missing The Music City...Good ole Nashville, TN.

Many had most of their capital in the stock market, and some had fixed-rate instruments.