How is this better then, if you have 3 IP's fully paid for with cash, or 3 IP's totally debted, but with all the loans covered by the cash in the offset?
Because if you suddenly need a lot of cash for any reason - health, family, loss of work, wanting to pounce on a fantastic investment opportunity or otherwise - it's a lot easier to just draw the cash out of an existing offset account than it is to go cap in hand to the Bank for a new loan.
Particularly if you want a new loan just when you have just lost your income for whatever reason eg job loss. It's only when you really need the loan that they won't give it to you. So get the loan and offset in place before you need it!
Why wouldn't you want that cash available to you? Get the loans in place while you can but of course only if you have the discipline not to spend the offset money on frivolities, which is clearly not a problem for china.