I used to break down old acrylic and oil paint from brushes I forgot to clean the night before using overnight soak in Isopropyl at 70% or higher.
It does break down paint, but not too aggressive. If you are brushing it on, the brush might scrape old layers right off.
You can dilute Isopropyl with water, estimate 50% or lower, and give it a try, it should be ok, BIG emphasis on "should". I mean, it is not acetone right?.
I am sorry I just saw this ( Isopropyl alcohol as water based acrylic thinner?) and could not help me self, even though that is not what you are talking about:
Yo dawg, water aint thin enough?! add a thinner to your thinner, so you can paint while you blend!
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