I think it is. IPL, even though it's not as effective, works roughly the same way as laser: one treatment, some hairs dead; two treatments, more hairs dead.
But since it's free and about body hair, if I were you, I'd consider having all the body regions where your hair annoys you to reduce it globally instead of focusing on one small region. Well, I think that's what I would do in your situation, since that way, many areas could be less hairy, less prone to ingrowns and much less visible once shaved, instead of having a small-ish hairless area and the rest hairy.
I haven't tried IPL myself, but if it works anything close to laser, the first few sessions should be the most effective, with the highest proportion of hairs out. Whilst with the face, eradication is pretty much necessary, with body hair, reduction can be very satisfactory. So having a few sessions on many areas would have my preference over many sessions on a few areas. Probably more hairs killed in total. And with just less dense, thinner, lighter hair, a lot of my body would feel quite fine, almost as much as total elimination.
Though sadly that doesn't seem possible with how packages are near me. You pay for a number of areas, 7 treatments, period. Well, there are individual sessions, but they're so much more expensive than packages that it's discouraging. But then again, I haven't shopped much, too convinced that Epiderma was the one only truly trustable laser clinic near me, which might be why I paid so much.
Depends on your preference and how your body hair is distributed, though, of course.
But uhm, about your question, yes, I believe starting with IPL and finishing it up with laser is possible. Though try not to put too much time between the "switch", because whilst it's not critical to wait more, keeping the right pace and spacing between treatments (I think 4-6 weeks is what most clinic advise) ensures optimal efficacy with hair cycles and whatnot, I think.