That's the main way I choose a group of juvies to buy and grow out. But I only pick out 2 strains to grow out together at a time. Strains that I predict could have nice fry. For example, I've grown out Flachens and Santarems, Santarems and red snakeskins and Fire reds and Pigeon snakeskins. I managed to get pairs from each cross and they turned out nice.
However, never mix pigeon and non pigeon. If they pair up, you will get a lot of ugly fry.