Contrary to the teaching of some in the ministry, this can be helpful in acquiring a better understanding of different passages, though inevitably you must go back to the original meaning of the words. Bible versions are based on different ancient texts.
Some translations are freer than others, while some are revisions of previous translations.
Some are not translations at all, but are paraphrases. The main objection I would have in doing in depth studies would be the use of paraphrased text such as the Living Bible or The Message . The United Pentecostal Church has long taken a stand against the Revised Standard Version of the Bible. They perceived that some fundamental Christian doctrines were changed and misleading. It was also felt that the majority of the translators were liberal scholars who did not believe some truths in God's Word.