Safety reserve for a rental property

[Colson Boyle]

I have recently purchased a new build rental property in Ontario.

I bought it for 550,000$ and the resale value is up to 800,000$ now (as the exact same model has sold for that much)

I am waiting for it to close as it will be closing in June 2022. When It closes I would like to pull some equity out of it and put it into a safe index fund to back the property incase all goes wrong.

I will have the ability to pull out approximately 200k-250k.

I am 19 years old and I can afford a little more risk as I obviously have some time before I am going to retire.

Any advice regarding this subject?

How much equity should I pull out?

Should I place some of my equity back into real estate?

Any advice would be greatly appreciated!