Buying homes with equity from other rentals

[Colson Boyle]

I’m 18 years old and I have just purchased my first home in Ontario Canada. It’s a new build that will be built next February. I bought it for 530k with 10% down. Don’t have to pay mortgage until it’s built. The other new builds, which are the exact same models are already selling for 570k as it’s in a developing area. My plan is to pull some equity out once I get the house(or within a year) and purchase another home. Is it risky to have 20% equity in multiple rentals if I repeat the process? Is there any better strategies I should use?