How to buy first home and invest?

[Victor Adame]

Hello,

I am in the process of buying my first primary residence. I am young, no kids and no real debt. I come from a family whose owned property so renting is not as appealing. 

I had this strategy to live in a house, for about >5 years, till I am able to get a mortgage for another primary residency , bounce, and collect rent from the 1st house and rinse and repeat, essentially.  

My question to the BiggerPockets community is if this is a common strategy? Or if there is another way one can buy there first home while also investing in real estate. I know a cash refinance will also be possible down the road, but as of now I am starting with no more than 10% equity in a property.