Financing a cash bought rental

[Saman Jafari]

Hey all, 

I am thinking to cash offer for a property however I don’t want to have 100% equity and I rather have less equity but having more properties.
so, my question is if I buy it with cash, can I finance it with a lender to cash out most of money I had put in? 
is there a reason why I should not do it? 

Thanks