Using equity from three IP's as deposit for IP#4

I have 3 IP's with quite high LVR. Say I refinance all three of the IP's, and I can release ~ 20K equity from each IP.

example:
IP#1 : equity $20K
IP#2 : equity $20K
IP#3 : equity $20K

Am I able to use the combined funds (i,e $60K) as a deposit for IP # 4?

Is this strategy OK, or is it too messy?

Using equity from three IP's as deposit for IP#4